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Which of the following lies primarily within the realm of microeconomics? A
Which of the following lies primarily within the realm of microeconomics?
A. a study of the factors influencing the unemployment rate in the U.S.
B. a study of how lower taxes on hotel rooms affects the demand for hotel rooms in a country
C. an analysis of the inflation rate in a country
D. a study of the impact of higher interest on a country's GDP.
Expert Solution
Answer: B
Microeconomics study individual markets or smaller unlike macroeconomics which studies the overall economy. Answers A,C and D all describe metrics for the overall economy and thus are in macroeconomics. Answer B focuses on the hotel industry and therefore is a part of microeconomics since it is about a single industry.
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