“Labor economists study the labor market. Because they study only one market, th
ID: 1161691 • Letter: #
Question
“Labor economists study the labor market. Because they study only one market, they must be micro economists.” Answer the following questions to determine whether the statement is true or false and falls under macro or micro economics.Labor Market. macro or micro? how many workers should ____________ a particular firm hire?
what is the overall level of ____________ output in the economy?
how many goods and services will the country’s labor force produce? _______
how much should you spend on a starbucks coffee this week? ____________
“Labor economists study the labor market. Because they study only one market, they must be micro economists.” Answer the following questions to determine whether the statement is true or false and falls under macro or micro economics.
Labor Market. macro or micro? how many workers should ____________ a particular firm hire?
what is the overall level of ____________ output in the economy?
how many goods and services will the country’s labor force produce? _______
how much should you spend on a starbucks coffee this week? ____________
Answer the following questions to determine whether the statement is true or false and falls under macro or micro economics.
Labor Market. macro or micro? how many workers should ____________ a particular firm hire?
what is the overall level of ____________ output in the economy?
how many goods and services will the country’s labor force produce? _______
how much should you spend on a starbucks coffee this week? ____________
Explanation / Answer
Macroeconomics deals with the overall economy such as GDP, inflation rate , unemployment rate etc.
Microeconomics deals with individuals and firms .
how many workers should a particular firm hire? Microeconomics
what is the overall level of output in the economy? Macroeconomics
how many goods and services will the country’s labor force produce? Macroeconomics
how much should you spend on a starbucks coffee this week? Microeconomics
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