Inflation Is a Microeconomic Issue Because It Affects What Households

question 35

True/False

Inflation is a microeconomic issue because it affects what households decide to buy.

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Definitions:

Right to Privacy

The right of individuals to keep their personal matters and information private and free from unauthorized intrusion.

Contraceptives

Methods or devices used to prevent pregnancy.

Rational-basis Test

A standard of review used by courts to evaluate the constitutionality of a statute, requiring that the law be rationally related to a legitimate government interest.

Supremacy Clause

Article VI, Paragraph 2, of the U.S. Constitution, which states that the Constitution and all laws and treaties of the United States constitute the supreme law of the land. Thus, any state or local law that directly conflicts with the U.S. Constitution or federal laws or treaties is void.