issue issue a The effect of higher cigarette taxes on the qu

issue. issue. a. The effect of higher cigarette taxes on the quantity of cigarettes sold. This is a issue. b. The effect of higher income taxes on the total amount of consumer spending. This is a c. The reasons for the economies of East Asian countries growing faster than the economies of sub-Saharan African countries. This is a d. The reasons for low rates of profit in the airline industry. This is a mi

Solution

Microeconomics is the study of individual markets whereas macroeconomics is the study of the entire economy.

a. The effect of higher cigarette taxes on the quantity of cigarettes sold. This is a microeconomic issue because this is related to the cigarette market and not the whole economy.

b. The effect of higher income taxes on the total amount of consumer spending. This is a macroeconomic issue because here we are talking about the whole economy and not any particular individual market.

c.The reasons for the economics of East Asian countries growing faster than the economies of sub-Saharan African countries. This is a macroeconomic issue because here we are comparing the whole economies of East Asian countries with the whole economies of sub-Saharan African countries.

d.The reasons for low rates of profit in the airline industry. This is a microeconomic issue because here we are talking about the airline industry in particular and not the entire economy.