Explain How Microeconomics Differs from Macroeconomics

question 24

Essay

Explain how microeconomics differs from macroeconomics. Explain why the following headlines, taken from various issues of The Wall Street Journal, deal with either microeconomics or macroeconomics.
(a) "Microsoft posted a 26% increase in sales"
(b) "Housing starts soared 13.3% in September"
(c) "Honeywell Plans to Slash More Jobs"
(d) "Germany to Breach Key Deficit Target it Helped to Create"
(e) "China's Output Grew 8.1%"
(f) "Washington Is Urging Canada to Increase Military Spending"

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Definitions:

Person Centered Theory

A psychological approach developed by Carl Rogers emphasizing the importance of an individual's self-concept, and the therapeutic process of providing unconditional positive regard to facilitate personal growth.

Maslow's Needs

A hierarchy of human needs proposed by Abraham Maslow, starting from physiological needs to safety, love/belonging, esteem, and culminating in self-actualization.

Self-Actualized

Self-Actualized refers to the realization or fulfillment of one's talents and potentialities, considered as a drive inherent in everyone according to Maslow's hierarchy of needs.

Fulfilled

A state or feeling of being satisfied or completed, often in terms of achieving one's desires, goals, or potential.