Classify the following as microeconomics or macroeconomics and provide a justification for your choice. (a) Research into why the growth rate of total production increased. (b) A theory of how consumers decide what to buy. (c) An analysis of IBM's share of the personal computer market. (d) Research on why interest rates in a country were unusually high.
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(a) Research into why the growth rate of total production increased.
(b) A theory of how consumers decide what to buy.
(c) An analysis of IBM's share of the personal computer market.
(d) Research on why interest rates in a country were unusually high.
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- Principles of Economics Demand And SupplyQuestions:1) Find a news article related to any economic/ social/environmental issue in Malaysia. 2) Introduce the topic/issue and discuss how the situation might affect demand or supply in the economy.Question: Which of the following best illustrates the economic way of thinking? a)The ability to use cartographic techniques to describe the natural and human world in maps. b)The science of predicting fish populations based on environmental conditions, population, dynamics and commercial harvest rates c)The capacity to critically evaluate art and theatre. d)The ability to look at an event, such as a cold freeze that damages the orange crop, and predict how it will affect prices and markets.Which of the given options would be studied in a microeconomics course? (A) How an increase in the tax rate affects the overall performance (B) Comparison of inflation rates between countries (C) How a trade agreement between the United States and Mexico affects both nations’ unemployment rates (D) Impact of rental roofs on the housing supply
- Raad wants to sell his workout DVDS in the Middle East, Asian, and Latin African countries. will help him reach vendors abroad, without the expense of traveling to meet them face-to-face. A website and other technological advances B. Partnering with a large U.S recording studio C. The SBA (Small Business Administration) D. An incubator facilityWhat is economics? A social science that teaches one how to cope with scarcity. A discipline that quantifies the values of assets. A quantitative science to analyze business cycles. A science that teaches firms and individuals how to maximize profits.Which one of the following is a microeconomic issue? (a) The rate of economic growth in South Africa. (b) The price of maize in South Africa. (c) The unemployment rate in Zimbabwe. (d) The South African inflation rate.
- Intermediate microeconomics Part bQuestion: List three freshwater and three saltwater macroeconomics schools. You do not need to discuss them: just listing their names will suffice for credit.Which of the following is a microeconomic problem? (A) the reasons why average prices are falling (B) the reasons Kathy is buying less orange juice (C) the reason why overall employment may fall (D) the impact of the government budget deficit on inflation
- (a) Distinguish between microeconomics and macroeconomicsUnit 1 and 2 Practice QuestionsStudents are expected to attempt the questions before attending the BBC Session.Selected questions will be discussed in the Units 1 and 2 BBC Session.Question 1a) What is Economics?b) Differentiate between Microeconomics and Macroeconomics.c) Classify the following questions as Microeconomics or Macroeconomics and provide a justification for your choice.(i) How will the market for melons be affected after Hurricane Dean?(ii) How much will the Trinidadian economy grow this year?(iii) What are the factors which determine the choice that a person makes between buying a Honda Accord or a Toyota Corolla?(iv) What will the inflation rate be for Belize? Question 2Which of the…Answer the following questions based on the figures below. (a) Look at figure (a) above. Is it essentially a bar graph? Explain. No, this is not a bar graph because it does not display any bar heights.Yes, this is a bar graph because there is a "horizontal" axis showing years and a "vertical" axis showing miles per gallon. Yes, this is a bar graph because there are horizontal bars drawn on the road. What are some of the flaws in figure (a) as a bar graph? (Select all that apply.) It labels years on the vertical axis.The data values are not clearly labeled.The years are evenly spaced numerically, but the figure shows the more recent years to be more widely spaced.The ability to correctly compare bar heights visually has been lost. (b) Examine figure (b) above, which shows the same information. Is it essentially a time-series graph? Explain. Yes, it is a time-series graph because individual data values are given.No, this is not a time-series graph because the years are not…