Principals of Macro with Meryum Saygili: week one

what does microeconomics typically focus on

• individual households and markets

• the entire economy of a coutry

• the entire economy of the world

• the study of inflation

True or false: Macroeconomics is typically large scale and can deal with the economy of the whole world

• False

• True

what does aggregate mean?

• to double something

• to subtract something

• To total something

• to add something

Is this example categorized as Micro or Macro: The effect of rent controls, or regulated rent prices, on tenants

• Micro

• Macro

Is this example categorized as Micro or Macro: the effect of an increase in the federal minimum wage on unemployment

• Macro

• Micro

is this example categorized as micro or macro: the effect that gasoline taxes have on the number of miles driven by automobile owners

• Micro

• Macro

is this example categorized as micro or macro: the effect on federal tax revenue of a proposed plan to simplify the tax code with just two rates; 10% on all income under $100,000 and 25% on all income over $100,000

• micro

• macro

is this example categorized as micro or macro: the effect of the United States-Mexico-Canada agreement on output and employment in the three countries

• micro

• macro

speaking generally, if issues involve two markets, it is an example of what

• micro

• macro

generally, if an issue affects many all markets or people it is an example of what?

• Micro

• Macro