Question

Indicate whether the following statement(s) applies to microeconomics or macroeconomics:a. The unemployment rate in the United States was 9.7 percent in March 2010.b. A U.S. software firm discharged 15 workers last month and transferred the work to India.c. An unexpected freeze in central Florida reduced the citrus crop and caused the price of oranges to rise.d. U.S. output, adjusted for inflation, decreased by 2.4 percent in 2009.e. Last week, Wells Fargo Bank lowered its interest rate on business loans by one-half of 1 percentage point.f. The consumer price index rose by 2.7 percent from December 2008 to December 2009.

Answer 1

Answer:

a. The unemployment rate in the United States was 9.7 percent in March 2010. - Macroeconomics

b. A U.S. software firm discharged 15 workers last month and transferred the work to India. - Microeconomics

c. An unexpected freeze in central Florida reduced the citrus crop and caused the price of oranges to rise. - Microeconomics

d. U.S. output, adjusted for inflation, decreased by 2.4 percent in 2009. - Macroeconomics

e. Last week, Wells Fargo Bank lowered its interest rate on business loans by one-half of 1 percentage point. - Microeconomics

f. The consumer price index rose by 2.7 percent from December 2008 to December 2009. - Macroeconomics

Explanation:

Microeconomics refers to the study of economics at an individual, group or company level. Microeconomics focuses on issues that affect individuals and companies.

On the other hand, macroeconomics refers to the study of a national economy as a whole and focuses on issues that affect the nation or state as a whole.