Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN: 9781285165875
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 2, Problem 5PA
To determine
Micro economic and macroeconomic statements.
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Classify the following topics as relating to microeconomics or macroeconomics.
a. a family's decision about how much income to save
b. the effect of government regulations on auto emissions
c. the impact of higher national saving on economic growth
d. a firm's decision about how many workers to hire
e. the relationship between the inflation rate and changes in the quantity of money
Classify the following topics as relating to microeconomics or macroeconomics.
a family’s decision about how much income to save
the effect of government regulations on auto emissions
the impact of higher national saving on economic growth
a firm’s decision about how many workers to hire e. the relationship between the inflation rate and changes in the quantity of money.
1. Classify the following topics as relating to microeconomics or macroeconomics.
a. A family’s decision about how much income to save
b. The effect of government regulations on auto emissions
c. The impact of higher national saving on economic growth
d. A firm’s decision about how many workers to hire
e. The relationship between the inflation rate and changes in the quantity of money
2. Classify each of the following statements as positive or normative. Explain.
a. Society faces a short-run trade-off between inflation and unemployment.
b. A reduction in the rate of money growth will reduce the rate of inflation.
c. The Federal Reserve should reduce the rate of money growth.
d. Society ought to require welfare recipients to look for jobs.
e. Lower tax rates encourage more work and more saving
Chapter 2 Solutions
Principles of Economics, 7th Edition (MindTap Course List)
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