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For Each of the Following, List Whether the Topic Is

question 57

Essay

For each of the following, list whether the topic is microeconomic or macroeconomic in nature:
(a.) The price of gasoline.
(b.) The national unemployment rate.
(c.) The quantity of new cars sold each year.
(d.) The wage rate paid to steel workers.
(e.) The amount of national output in an economy.

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Definitions:

Irish

Pertains to the people, culture, or characteristics of Ireland, a country located on the island of Ireland in the North Atlantic.

Scots

Refers to the people native to Scotland, a country within the United Kingdom, or individuals of Scottish descent.

Jones Act

A U.S. federal law that regulates maritime commerce in American waters and between U.S. ports, requiring goods transported by water between U.S. ports to be carried on U.S.-flagged ships.

U.S. Citizenship

The status of being a citizen of the United States, involving certain rights, duties, and privileges, and obtained by birth in the U.S., through parents, or by naturalization.

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