Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 1 - Limits, Alternatives, and Choices - Review Questions - Page 22: 2

Answer

a. macroeconomics b. microeconomics c. microeconomics d. macroeconomics e. macroeconomics f. macroeconomics

Work Step by Step

a. Unemployment rate is a description of the economy as a whole. b. Employment in a specific business is a topic of microeconomics. c. Production in a specific business is also a topic of microeconomics. d. National economic output is a description of the economy as a whole. e. Interest rates are also a description of the economy as a whole. f. The Consumer Price Index (CPI) is the average change of price consumers pay for goods; this describes the economy as a whole.
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