1. Analyze whether each of the following is primarily a micro economic or a macroeconomic issue:
i. Setting the price for a cup of coffee.
ii. Measuring the impact of tax policies on total household spending in the economy.
iii. A household?s decision regarding whether or not to go on vacation.
iv. A worker?s decision regarding which job to accept.
v. Designing government policies to address issues with the social security program.
The economics is the study of science and art dealing with how scarce resource is used for satisfying the need of the consumers. It is the state of a group as respects to material prosperity.
Answer and Explanation:
i)The setting up the price of the cup is related to the microeconomic issues. The microeconomics deals with the action of individuals and companies in...
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fromChapter 1 / Lesson 10