Determine whether each of the following topics would more likely be studied in microeconomics or macroeconomics. Microeconomics Macroeconomics The effect of a large government budget deficit on the economy's price level The effects of the Internet on the pricing of used cars The effect of an increase in consumer income on demand for smart phones

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25-01-2020
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Determine whether each of the following topics would more likely be studied in microeconomics or macroeconomics. Microeconomics Macroeconomics The effect of a large government budget deficit on the economy's price level The effects of the Internet on the pricing of used cars The effect of an increase in consumer income on demand for smart phones

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enyo enyo · Answer 1 · 2020-01-27T19:37:04+01:00

Answer:

MICRO ECONOMICS: 2,3. MACRO ECONOMICS : 1.

Explanation:

Micro Economics is the study of individual consumers, firms & industries. Eg: Price of a Product.

Macro Economics is the study of economy as a whole. Eg: An Economy's general price level.

Although both have certain level of aggregation- microeconomics has market demand, macroeconomics has aggregate demand. But, the level of aggregation in microeconomics is lesser than that of macroeconomics and former is 'bottom to top' view, latter is 'top to bottom view'.

1. The effect of a large government budget deficit on the economy's price level : studies the implications of a macro economic govt decision i.e budget on a macro economic factor i.e general price level - is Macro Economics Topic

2., 3 :The effects of the Internet on the pricing of used cars, The effect of an increase in consumer income on demand for smart phones: are specific factors impact on a particular product market demand. These are Micro Economics topics.