Question

Classify the following topics as relating to microeconomics or macroeconomics. Topic: Microeconomics or Macroeconomics

1. The effect of a change in price of one good on a related good
2. The relationship between the inflation rate and the unemployment rate
3. The effect of government subsidies on the agricultural industry

Answer 1

Answer: MICROECONOMICS

1.The effect of a change in price of one good on a related good.

MACROECONOMICS

2. The relationship between the inflation rate and the unemployment rate.

3.The effect of government subsidies on the agricultural industry.

Explanation: Microeconomics is a term of the to describe the impact of certain conditions on a single product or service,it doesn't consist of the whole economy or country.

Macroeconomics is a term used to describe the impact of certain conditions on the whole economy or country. Inflation rate, unemployment rate, effects of subsidy in Agriculture etc are all Macroeconomics statistics give better understanding of the economic performance.