1). How does trade with Europe affects the United States economy? ⇒ Macroeconomic
2). How does a retailer determine the price of socks? ⇒ Microeconomic
3). Is it better to take the babysitting job or stay unemployed?⇒ Microeconomic
4). Should the minimum wage be increased? ⇒ Macroeconomic
5). How does the national debt impact employment? ⇒ Macroeconomic
What is microeconomic and macroeconomic?
Microeconomics refers to the study of the economic behaviors of individuals, households, and companies.
Macroeconomics refers to the study a national economy as a whole. It focuses on issues that affect the nations and the world economy.
Basically, both the microeconomic and macroeconomics are the economic terms that studies the economy at different levels.
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