A) Which of the following are microeconomic problems? (You may select more than one answer

A.

(a) Work/leisure choice.

This is a microeconomic issue that households face. If individuals work more, they have higher earning and less leisure. However, if they choose to have more leisure time, they will work less and earn less.

(b) Marketing strategy.

This a microeconomic problem that firms encounter in the course of managing their businesses. The firms face a challenge of developing the best marketing strategy and one which will minimize costs.

B.

(b) Cyclical unemployment.

(e) Business cycles.

Both Cyclical unemployment and Business cycles are macroeconomic issues that face the entire economy. Cyclical unemployment results from business cycles. When sales of firms in the economy decline, the firms reduce production and sack workers.