Which of the following statements describes microeconomics? 1.)Inflation in the US increased by 5% in May 2021. 2.) The price of beef increased by 15% last month due to a cyber attack on a major beef processing firm. 3.)The federal government lowered corporate tax rates in 2019. 4.) The size of the U.S. economy shrunk by 7% in 2020 due to COVID crisis.
Which of the following statements describes microeconomics? 1.)Inflation in the US increased by 5% in May 2021. 2.) The price of beef increased by 15% last month due to a cyber attack on a major beef processing firm. 3.)The federal government lowered corporate tax rates in 2019. 4.) The size of the U.S. economy shrunk by 7% in 2020 due to COVID crisis.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Which of the following statements describes
1.)Inflation in the US increased by 5% in May 2021.
2.) The
3.)The federal government lowered corporate tax rates in 2019.
4.) The size of the U.S. economy shrunk by 7% in 2020 due to COVID crisis.
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