From these possibile issues, which is a microeconomic one? The Chinese economy experiences rapid economic growth. The U.S. government cuts taxes to stimulate the economy in a recession. Inflation skyrockets in Venezuela. The unemployment rate increases in Bulgaria. The price of gasoline rises in the United States this month.

In a market economy, decisions are guided by individual self-interest. What impact does this have?   Question 6 options:   There is more need for a strong legal system to control individual greed.   There is a strong need for government intervention in the market.   There is less efficiency in market economies than in command economies.   There is still the ability to achieve desirable economic well-being for society as a whole.

____________The opportunity cost of an economic decision is: the best alternative that was sacrificed. the amount of money needed to implement the decision. any land, labor, and capital that are wasted. all options that were lost due to scarcity.

identify each of the following topics as being part of microeconomics or macroeconomics: the effect of pollution taxes on the Canadian copper industry (a) microeconomics (b) macroeconomics