Economics Analysis Assignment: Technical Questions
Q1. What are the differences between the microeconomic and macroeconomic perspectives on the economy?
Q2. What are the four major types of markets in microeconomic analysis? What are the key characteristics that distinguish these markets?
Q3. Why do economists assume that firms are price-takers in the model of perfect competition? How does this pricing behavior differ from that in the other market models?
Q4. In macroeconomics, what are the five major categories of spending that make up GDP? Are all five categories added together to determine GDP?
Q5. Discuss the differences between fiscal and monetary policies?