MACROECONOMICS
14th Edition
ISBN: 9781337794985
Author: Baumol
Publisher: CENGAGE L
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Question
Chapter 5, Problem 1TY
To determine
(a)
Whether rapid growth of Twitter is studied by a microeconomist or a macroeconomist.
Expert Solution
Explanation of Solution
Twitter is a social media firm. Thus, the study of the growth of Twitter will be done by a microeconomist as the study of an individual firm.
To determine
(b)
Whether a fall in
Expert Solution
Explanation of Solution
Unemployment is an issue of the entire economy as a fall in unemployment in the United States from 2010 to 2018 is a vast economic issue. It will be studied by a macroeconomist.
To determine
(c)
Whether the comparison of
Expert Solution
Explanation of Solution
Economic growth refers to the rise in
To determine
(d)
Whether the growth of health care costs is studied by a microeconomist or a macroeconomist.
Expert Solution
Explanation of Solution
An economy comprises three sectors namely primary secondary and tertiary. The tertiary sector further includes other sectors such as health, education, insurance, banking, etc.
The study of the growth of health care costs will be studied by a macroeconomist.
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Chapter 5 Solutions
MACROECONOMICS
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