100 points Question and Exercise 0103 algo a Which of the fo

1.00 points Question and Exercise 01-03 (algo) a Which of the following are microeconomic problems? Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the option ance to place a check mark For incorrect a marketing strategy a tederal budget defict ntation work/esure choce recessions b Which of the following are macroeconomic problems? Instructions: In order to receive full credit, you must make a selection for each option. For correct answerls), click the option once to place a check mark. For incorrect a raw material inventory control business cycles the pricing polices of firms References O Type here to search

Solution

Question a) Marketing strategy and work/leisure choice are made by individual units and so these are the problems related to Microeconomics. Note that the latter deals with individual units and their choices in decision making. Market strategy is developed by firms individually and similarly individual worker chooses the number of working hours and leisure hours.

Question b) Cyclic unemployment and business cycle are related to Macroeconomics because they affect the entire nation as a whole. Again, pricing problems, negative externalities and others are problems of individual industries.