Three important topics of interest to economists are: *employment. *prices. *output. Develop one microeconomic statement...
Three important topics of interest to economists are:
*employment.
*prices.
*output.
Develop one microeconomic statement and one
macroeconomic statement dealing with each of the three topics just
listed.
Homework Answers
The economic matter relating to an individual is microeconomic; but such matter relating to the whole nation is macroeconomic.
Microeconomic:
Employment: Mr X needs an employment, since he is out of job last one week.
Price: a consumer asks for the price of a mobile phone.
Output: two workers in a firm produce 30 units of output each.
Macroeconomic:
Employment: out of the total labor force of the country only 40% workers are in employment.
Price: there is an increasing price level of the whole nation.
Output: Aggregate of outputs during a year within the country’s boundary constitute Gross Domestic Product (GDP) if it is expressed in monetary value.
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Three important topics of interest to economists
are:
*employment.
*prices.
*output.
Develop one microeconomic statement...
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pls answer all. i will like and thumbs up While economists measure unemployment at the macroeconomic...
pls answer all. i will like and thumbs up
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pls answer all. i will like and thumbs up
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