PSU Econ 104 Final Exam Questions and Answers 100% Correct

PSU Econ 104 Final Exam Questions and Answers 100% Correct Which of the following would be an example of a microeconomic issue? Select all that apply. 1. The federal government of Sweden offers tax credits for individuals to put solar paneling on their homes. 2. Sandra takes out a loan to invest in a new business opportunity. 3. A local sandwich shop shuts down during a recession. 4. None of these are microeconomic issues. 1, 2, and 3 True or false: Macroeconomics is the study of the economy as a whole which includes topics such as unemployment, inflation, and overall production. True True or false: Microeconomics is the study of the economy as a whole which includes topics such as unemployment, inflation, and overall production False The inflation rate for a given year is measured by taking the: Percentage change in the price level from the previous year True or false: The official unemployment rate will never reach 0%. True During a recessionary period, the unemployment rate __________ and the total output and production __________. rises; falls