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A microeconomist, as opposed to a macroeconomist, might study: a
A microeconomist, as opposed to a macroeconomist, might study:
a. the effect of borrowing by the federal government on the inflation rate.
b. the effect of rising oil prices on employment in the airline industry.
c. changes in the nation's unemployment rate over short periods of time.
d. alternative policies to promote higher living standards throughout the nation.
Expert Solution
The correct option is:
b. the effect of rising oil prices on employment in the airline industry.
Microeconomics focuses on the study of behavior of individual households and firms and only option b. relates to individual behavior. Rest of the options (a, c, and d) relate to macroeconomics.
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