Which of the following problems are likely to be studied by a microeconomist and which by a macroeconomist? a. The rapid growth of Twitter

Which of the following problems are likely to be studied by a microeconomist and which by a macroeconomist? a. The rapid growth of Twitter

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December 2, 2021
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Which of the following problems are likely to be studied by a microeconomist and which by a macroeconomist?

a. The rapid growth of Twitter

Which of the following problems are likely to be studied by a microeconomist and which by a macroeconomist?

b. Why unemployment in the United States fell from 2010 to 2018

Which of the following problems are likely to be studied by a microeconomist and which by a macroeconomist?

c. Why Japan’s economy grew faster than the U.S. economy in the 1980s, but slower in the 2000s

Which of the following problems are likely to be studied by a microeconomist and which by a macroeconomist?

d. Why the growth of health-care costs slowed down in recent years

Answer and ExplanationSolution by a verified expert

A

Here is the full solution including the answer and explanation.

Explanation
"Macroeconomist " is correct
"Microeconomist" is incorrect
Microeconomics is the study of individual markets and firms. It deals with the decisions of individual households and firms. Macroeconomists, on other hand, study the growth of the whole economy and not individual firms. Macroeconomists study the overall price level and unemployment. Since a fall in the rate of unemployment of Country U is to be studied for the entire economy, it is studied by a macroeconomist.

B

Here is the full solution including the answer and explanation.

Explanation
"Macroeconomist " is correct
"Microeconomist" is incorrect
Microeconomics is the study of individual markets and firms. It deals with the decisions of individual households and firms. Macroeconomists, on other hand, study the growth of the whole economy and not individual firms. Macroeconomists study the overall price level and unemployment. Since a fall in the rate of unemployment of Country U is to be studied for the entire economy, it is studied by a macroeconomist.

C

Here is the full solution including the answer and explanation.

Explanation
"Macroeconomist" is correct
"Microeconomist" is incorrect
Microeconomics is the study of individual markets and firms. It deals with the decisions of individual households and firms. Macroeconomists, on other hand, study the growth of the whole economy and not individual firms. Macroeconomics involves the study and comparison of two economies. Since the comparison is between growth rates of Country U and Country J, the difference and patterns of growth rate are studied by a macroeconomist.

D

Here is the full solution including the answer and explanation.

Explanation
"Microeconomist" is correct
"Macroeconomist" is incorrect
Microeconomics is the study of individual markets and firms. It deals with the decisions of individual households and firms. Macroeconomist, on other hand, studies the growth of the whole economy and not individual firms. Since the healthcare sector represents one particular industry and not the entire economy, the study of health care costs would be studied by a microeconomist.

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