Explain how microeconomics differs from macroeconomics. Which of the following headlines, taken from the various issues of The Daily Graphic, deal with microeconomics: a. “Nestle Ghana posted a 18% increase in sales” b. “GRIDCO plans to slash more jobs” c. “Ghana’s Output Grew by 5.8%” d. “Housing starts soared 10% in September” e. “Ghana to Breach key Deficit Target it helped to create” Explain each issue why it is a microeconomic issue

Explain how microeconomics differs from macroeconomics. Which of the following headlines, taken from the various issues of The Daily Graphic, deal with microeconomics: a. “Nestle Ghana posted a 18% increase in sales” b. “GRIDCO plans to slash more jobs” c. “Ghana’s Output Grew by 5.8%” d. “Housing starts soared 10% in September” e. “Ghana to Breach key Deficit Target it helped to create” Explain each issue why it is a microeconomic issue

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter9: Classical Macroeconomics And The Self Regulating Economy

Section: Chapter Questions

Problem 17QP

See similar textbooks

Similar questions

Explain whether each of the following is an example of a macroeconomic concern or a microeconomic concern. 1. Ford Motor Company is contemplating increasing the production of full-size SUVS based on projected future consumer demand 2. Congress is debating the option of implementing a value added tax as a means to cut the federal deficit. 3. The Federal Reserve announces it is increasing the discount rate in an attempt to slow the rate of inflation. 4. The Bureau of Labor Statistics projects a 22.5 percent increase in the number or workers in the healthcare industry from 2008 to 2018.
Fiscal policy and Monetary policy what effect can they have on macroeconomic, name any policy that have effected the macroeconomic?
Identify the questions that are answered by Macroeconomics from the following. a. All of the options b. What is the nation’s rate of unemployment c. What is the nation’s rate of inflation d. What is the nation’s level of GDP
1. 2. Explain why macroeconomic analysis is particularly concerned with issues of economic growth, unemployment, inflation, and balance of payments? "Economic growth does not necessarily reduce the number of unemployed workers". Explain this statement.
Classify the following as microeconomics or macroeconomics and provide a justification for your response. A comparison of alternative tax policies and their respective impacts on the rate of the nation’s economic growth The decision by McDonald’s to hire fewer workers because of an increase in the minimum wage. Susan’s decision about how much income to save The central bank announces that it is increasing the discount rate in an effort to slow the rate of inflation. Question 2 A snowboard company currently hires 10 skilled employees who are paid a weekly wage of $1,000.00. the cost of capital is $3000 and it is fixed, which means that it does not vary with output. The company is currently producing 240 snowboards. The company’s cost will be $13,500 if it produces an additional snowboard. A customer is willing to pay $550 for the 241st snowboard. Should the company produce and sell it? Timothy quits his job which pays $84000 a year, to enrol in a 2-year…
The Federal Reserve Bank of Atlanta releases its monthly Wage Growth Tracker to study trends in wages across various industries. One interesting issue is whether wages rise faster for those who stay in their current jobs (job stayers) or those who seek new opportunities (job switchers). According to the data, job stayers tend to do better than job switchers during a recession. But when the labor market is strong, job switchers experience higher wage growth than job stayers. a. During a recession, job stayers do better than job switchers because a.labor demand increases and job switchers can find jobs with higher wages. b.labor supply decreases and job switchers can find jobs with higher wages. c.labor demand decreases and job switchers cannot find jobs with higher wages. b. When the labor market is strong, job switchers experience higher wages than job stayers because a.labor demand decreases and job switchers cannot find jobs with higher wages. b.labor supply…
Economics please note that following questions have to be answered in 50-100 words at max, thus l'm requesting you to please answer all the questions instead of just answering by parts, because if I post them part by part they will not be understandable in a subject like MARCOECONOMICS Explain briefly: a) What is the main cause of the differences in living standards today compared to those of a century ago? b) Explain the difference between countries like Norway and countries like USA using the circular flow model. c) Using the key accounting identify, explain how it is possible for a country to have a current account deficit, and a balanced private financial асcount. d) Using the Solow model, explain what happens to current and future consumption when a country saves too much and invests too little. e) If the labour supply increase as the real wage increase, what do you know about the substitution effect compared to the income effect?
Read the excerpt below and use it to answer the essay.“In some ways the state of the world economy is less hostile today than when (then) finance minister Tito Mboweni read his Budget Speech a year ago. Global economic growth rebounded significantly in 2021, after the decimation brought about by the Covid-19 induced recession in 2020.One of the outcomes of this was a sharp recovery in commodity prices, which has resulted in much higher-than-expected mining tax revenue in South Africa. This, in turn, has provided some welcome – albeit limited – breathing space on the fiscal front.The local economy is thought to have grown by more than 4.5 percent in 2021 – the highest annual increase in more than a decade. On balance, the finance minister should be able to meet spending demands (including the extension of the Sassa payments) for the year ahead, without widening the Budget deficit or resorting to punitive upwards adjustments to tax rates.”[Adapted from article by Professor André Roux] •…
Early during the COVID-19 pandemic, the government used multiple stimulus packages to increase government spending. 3. Using the Z-Y, NX-Y, IS-LM, UIP combined graph on the next page, what should be happening as a result? Show the shifts on the graph itself. NN Z Z NN Y=Z Z c0- if f UI i pvt L M c1T+I+G+NX i10 y 45° if f if NK N Y Y f 0 Y X Y 0 Y 0 Y 20 NX N X E 0 E Y NX Fiscal stimulus
Which of the following is not related to Macroeconomics? a. Determining individual consumer decisions b. Preventing the economy from experiencing inflation c. Preventing the economy from experiencing unemployment d. Keeping living standards high for people to live decent, meaningful lives
Describe the most valuable theory/concept/ model that you learned from macroeconomics class and explain why
In the fifty years before the covid-19 pandemic, the U.S. also suffered two deep recessions, in 1981-82 and 2007-2009. (As you know, the second was the Great Recession.) Based on the historical evidence in the chart, about how high does the unemployment rate rise in terrible recessions like those? Briefly explain.