Question

One example of a microeconomic question is, "How will prices in the clothing industry change if the government bans imports from China?" True

Answer 1

Answer:

True

Explanation:

Microeconomics is a branch of economics that studies the decisions individuals and firms make in response to changes in economic factors. These factors include price, resources etc. it studies how firms and individuals allocate and make decisions about resources

The question is looking at the effect of price on an industry. This is what microeconomics study

Macroeconomics is a branch of economics that studies the economy as a whole. Macroeconomics studies economic aggregates such as inflation, unemployment, GDP and growth rate.