Major Divisions in Economics
Distinguishing Between the Major Divisions in Economics
Directions: For each of the following news 'headlines,' determine whether the scenario illustrates macroeconomics, microeconomics or consumer economics. Or, is it a example of more than one? If it is a combination of more than one, explain how it illustrates each. Type your answers below each headline in all blue font.
1. "Intel decides to open a new manufacturing plant in Colorado" Microeconomics
2. "Universal Studios sees huge increase in ticket sales last quarter - Disney sees comparable increase in ticket sales." Consumer economics
3. "The Federal Reserve Board decided yesterday to lower the discount rate for banks across the nation." Macroeconomics
4. "Megalith Industries has decided to merge with Mini Manufacturing. The new company will be called Mega-Mini Industries." Micoeconomics
5. "44 State Workers to Lose Jobs." Consumer Economics
6. “Americans, both on a per-family and per-person basis, own more cars than people do anywhere else in the world. Microeconomics.
7. "National Deficit to Top $1 Trillion Again" (Deficit means that the country is spending more money than it is bringing in.) Macroeconomics
8. "Wal-Mart Puts Local 'Mom & Pop' Market Out of Business. Consumer economics
9. “New report shows that American families are spending 15% of their income on food.” Macroeconomics.
10. “New Normal for Unemployment Rate Raised to 7%” Consumer Economics
11. “Recession recovery is slow but sure-Gross Domestic Product (GDP) Increased by 1% Last Quarter” Microeconomics
12. “Swoozie’s Department Store Celebrates Grand Opening This Weekend” Microeconomics
13. “Gasoline Prices Cause Consumers to Drive Less and Walk More” Consumer Economics
14. “More People Buying Bicycles as Gas Prices Climb to New Highs” Macroeconomics
15. “Americans save a lower percentage of their income than do people in many other
Directions: For each of the following news 'headlines,' determine whether the scenario illustrates macroeconomics, microeconomics or consumer economics. Or, is it a example of more than one? If it is a combination of more than one, explain how it illustrates each. Type your answers below each headline in all blue font.
1. "Intel decides to open a new manufacturing plant in Colorado" Microeconomics
2. "Universal Studios sees huge increase in ticket sales last quarter - Disney sees comparable increase in ticket sales." Consumer economics
3. "The Federal Reserve Board decided yesterday to lower the discount rate for banks across the nation." Macroeconomics
4. "Megalith Industries has decided to merge with Mini Manufacturing. The new company will be called Mega-Mini Industries." Micoeconomics
5. "44 State Workers to Lose Jobs." Consumer Economics
6. “Americans, both on a per-family and per-person basis, own more cars than people do anywhere else in the world. Microeconomics.
7. "National Deficit to Top $1 Trillion Again" (Deficit means that the country is spending more money than it is bringing in.) Macroeconomics
8. "Wal-Mart Puts Local 'Mom & Pop' Market Out of Business. Consumer economics
9. “New report shows that American families are spending 15% of their income on food.” Macroeconomics.
10. “New Normal for Unemployment Rate Raised to 7%” Consumer Economics
11. “Recession recovery is slow but sure-Gross Domestic Product (GDP) Increased by 1% Last Quarter” Microeconomics
12. “Swoozie’s Department Store Celebrates Grand Opening This Weekend” Microeconomics
13. “Gasoline Prices Cause Consumers to Drive Less and Walk More” Consumer Economics
14. “More People Buying Bicycles as Gas Prices Climb to New Highs” Macroeconomics
15. “Americans save a lower percentage of their income than do people in many other