Which would most likely be studied in a microeconomics course?

Microeconomics focuses primarily on: the decisions and behaviors of individuals and firms. Normative economics: studies what should be, which requires a value judgement.

What would a macroeconomist most likely study?

Macroeconomics, study of the behaviour of a national or regional economy as a whole. It is concerned with understanding economy-wide events such as the total amount of goods and services produced, the level of unemployment, and the general behaviour of prices.

What do microeconomics studies focus on?

Microeconomics focuses on supply and demand and other forces that determine price levels in the economy. It takes a bottom-up approach to analyzing the economy. In other words, microeconomics tries to understand human choices, decisions and the allocation of resources.

Which of the following topics would most likely be studied in macroeconomics?

Though macroeconomics encompasses a variety of concepts and variables, but there are three central topics for macroeconomic research on the national level: output, unemployment, and inflation.

What are the major issues in microeconomics?

The Exchange Rate and the Balance of Payments.

• Issue # 1. Employment and Unemployment:
• Issue # 2. Inflation:
• Issue # 3. The Trade Cycle:
• Issue # 4. Stagflation:
• Issue # 5. Economic Growth:
• Issue # 6. The Exchange Rate and the Balance of Payments:

What are the examples of microeconomics?

Here are some examples of microeconomics:

• How a local business decides to allocate their funds.
• How a city decides to spend a government surplus.
• The housing market of a particular city/neighborhood.
• Production of a local business.

What does a macroeconomist study?

Macroeconomics studies economy-wide phenomena such as inflation, price levels, rate of economic growth, national income, gross domestic product (GDP), and changes in unemployment.

Which is a positive economic statement?

Positive economics is objective and fact-based where the statements are precise, descriptive, and clearly measurable. Here’s an example of a positive economic statement: “Government-provided healthcare increases public expenditures.” This statement is fact-based and has no value judgment attached to it.

What are the three basic questions every society must answer?

Because of scarcity every society or economic system must answer these three (3) basic questions:

• What to produce? ➢ What should be produced in a world with limited resources?
• How to produce? ➢ What resources should be used?
• Who consumes what is produced? ➢ Who acquires the product?