Indicate whether each of the following statements applies to microeconomics ormacroeconomics:i. The unemployment rate in Bangladesh was 9.7 percent in March 2019.ii. A Bangladeshi software firm discharged 15 workers last month and transferredthe work to India.iii. Extreme cold weather in northern region of Bangladesh reduced the riceproduction 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.

Economics is a discipline that includes two disciplines microeconomics and macroeconomics.…

Answered: Indicate whether each of the following…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1. How does microeconomics relate to macroeconomics? 2. Predict how each of the following economic changes will affect the equilibrium price and quantity in the financial market for home loans. Sketch a demand and supply diagram to support your answers. • The number of people at the most common ages for home-buying increases. • People gain confidence that the economy is growing and that their jobs are secure. • Banks that have made home loans find that a larger number of people than they expected are not repaying those loans. • Because of a threat of war, people become uncertain about their economic future. • The overall level of saving in the economy diminishes. • The federal government changes its bank regulations in a way that makes it cheaper and easier for banks to make home loans.
Explain how Marx's principle may or may not apply to today: - economics rules everything
Classify the following as microeconomics or macroeconomics and provide a justification for the choice 1. Airlines projects a drastic reduction in international travel for this quarter. This might result in the layoffs of workers 2.The impact of an increase in the price of computer chips on the market for personal computers 3. The relationship between the inflation rate and changes in the quantity of money 4. The decision by Mc Donald's to hire fewer workers because of an increase in the minimum wage
Consider the macroeconomics process/perspective. 1). Do you think it helps the economy to implement macroeconomic theories, ideas? Why? Why not? 2). Do you think that the macroeconomic theories and ideas are relevant to you? why? why not? 3). Do you think that macroeconomic ideas produce an economy that is more unequal across citizens? Why? Why not? 4). Do you think macroeconomic theories and ideas are too old fashioned for our current economy? Why? Why not?
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. (
Which of the following is NOT a macroeconomic topic?A. National GDP trendsB. The increase in consumer demand for smartphones in the last five yearsC. The effect of an increasing unemployment rate in South AfricaD. Global oil prices in 2023
Explain the central problem of “how to produce” in economics
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?
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.
Define the three macroeconomic variables (inflation, unemployment, growth)

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