English For Economics 2

The national unemployment rate has fallen to 4%.

• MACRO

• Micro

Answer explanation

MACRO - It's about the entire country's economy

A local coffee shop decides to hire two new baristas.

• MACRO

• micro

Answer explanation

MICRO - It's a decision made by a single business

The workers is debating a new law to increase the minimum wage

• MACRO

• micro

Answer explanation

MACRO - Debating policies that affect the entire economy are macroeconomic

A student is choosing between majoring in Engineering or Economics based on potential future salaries.

• MACRO

• micro

Answer explanation

MICRO - This is an individual's personal decision about their own labor and income

Apple Inc. launches a new iPhone and must decide what price to set for it.

• MACRO

• micro

Answer explanation

MICRO - This is a pricing decision for a specific product by a single company

A major national strike by truck drivers causes delays in shipments and leads to empty shelves in supermarkets across the country.

• MACRO

• micro

Answer explanation

While the strike itself might be a micro event (labor negotiations), its aggregate effect on the entire national supply chain is a classic macroeconomic problem. The answer leans heavily towards MACRO

Due to a booming economy and low unemployment, a software company is forced to offer higher salaries to attract new programmers.

• MACRO

• micro

Answer explanation

The cause (low national unemployment) is macroeconomic. The effect (a single company's salary decision) is microeconomic. The question is about the company's action, so the primary answer is MICRO, but it's a perfect example of a macro factor influencing micro behavior.

The rapid growth of the gig economy (like Gojek, Grab) is changing the way we think about job security and traditional employment.

• MACRO

• micro

Answer explanation

This is a fantastic grey area. It starts with millions of individual (micro) choices to become gig workers, but the result is a large-scale, economy-wide shift in the labor market. This is a MACRO-scale trend emerging from micro decisions.

A popular influencer's viral post causes a massive surge in demand for a specific local product.

• MACRO

• micro

Answer explanation

The influencer's action is a micro event. The surge in demand for that one product is also micro. However, if it becomes a massive trend affecting a whole industry, it can have macro implications. The initial effect is MICRO.

A study shows that the top 1% of households in a country control over 40% of the nation's wealth.

• MACRO

• micro

Answer explanation

This is a question about aggregate income distribution, which is a central theme in MACROeconomics. It's looking at the result for the entire economy, not the budget of a single 1% household.