Indicate whether each of the following statements applies to microeconomics or macroeconomics: i. The unemployment rate in Bangladesh was 9.7 percent in March 2019. ii. A Bangladeshi software firm discharged 15 workers last month and transferred the work to India. iii. Extreme cold weather in northern region of Bangladesh reduced the rice production and caused the price of rice to rise. iv. Inflation rate in Bangladesh decreased by 2.4 percent in 2018. v. Last week Sonarbangla Bank (a private commercial bank of Bangladesh) lowered its interest rate on business loans by one-half of 1 percentage point. vi. The GDP growth rate rose by 3.5 percent from July 2018 to June 2019.

2. Indicate whether the following statement(s) applies to microeconomics (Micro) or macroeconomics (Macro): a) A U.S. automobile manufacturing firm announced to hire 500 workers last month. (. b) The unemployment rate in the United States was 13.3 percent in March 2020. c) In 2011 an unexpected late spring frost after planting in southwestern Minnesota incurred additional costs to farmers as they replanted, although replanting payments are covered by insurance. (

Explain the central problem of “how to produce” in economics

Q3

Which of the following is a macroeconomic issue? The price of butterThe number of new cars producedThe growth rate of total outputThe price of products sold in the steel industryThe price of cell phone service Question 8.8.When economists make the assumption that wants are unlimited, they mean that most people  want more of everything.are satisfied with what they have.want more of some goods, even if they don’t want more of everything.don’t care what they have.are greedy. Question 9.9.What will cause a change along the supply curve?  The supplier’s expectationsThe supplier’s costsThe price of the goodThe price of all other good? Question 10.10.Ceteris paribus, as applied in demand theory, means accounting for all possible simultaneous changes.holding constant all factors that affect demand except one.observing the real world.holding technology and resource prices constant.holding one input constant while changing the other input.