Asked by courtney laverty on Jun 11, 2024
Verified
Which of the following would likely be studied by a macroeconomist rather than a microeconomist?
A) The effect of a technological advance no the natural gas industry
B) The economic impact of tornadoes on cities and towns in Oklahoma
C) How tariffs on shoes affect the shoe industry
D) The effect of changes in the money supply on the inflation rate
Microeconomist
An economist who specializes in microeconomics, the study of the behavior of individuals and firms in making decisions on the allocation of limited resources.
Inflation Rate
The speed at which the generic pricing for goods and services elevates, undercutting the force of buying potential.
- Distinguish between different fields of study in economics, including microeconomics and macroeconomics.
Verified Answer
MO
Munachiso OnwuchekwaJun 11, 2024
Final Answer :
D
Explanation :
Macroeconomics focuses on the economy as a whole, including topics such as inflation, unemployment, and economic growth. The effect of changes in the money supply on the inflation rate is a classic example of a macroeconomic issue, as it deals with the overall level of prices in the economy rather than the specifics of individual markets or industries.
Learning Objectives
- Distinguish between different fields of study in economics, including microeconomics and macroeconomics.