Answered: Kindly help with the questions below…

Kindly help with the questions below 1) explain the difference between the study of microeconomics and the study of macroeconomics. 2) What is the Lucas critique as used in the economy

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter1: Introducing The Economic Way Of Thinking

Section: Chapter Questions

Problem 5SQP

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Tax Incidence Analysis

Tax incidence analysis is a kind of economic analysis. It helps to understand the division of tax burden between stakeholders. Tax incidence also relates to the price elasticity of demand and supply. The producers and consumers may valuate their tax burden with the help of tax incidence analysis. It also helps to calculate the burden of a new tax. It is the effect of a particular tax and analysis of tax occurrence in the economy.

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Kindly help with the questions below

1) explain the difference between the study of microeconomics and the study of macroeconomics.

2) What is the Lucas critique as used in the economy

Branch of economics that analyzes the behavior and performance of an economy as a whole. It focuses on the study of aggregates and evaluates changes related to unemployment, gross domestic product, inflation, monetary and fiscal policies of the government.

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