1. Economic phenomena such as the rate of unemployment and inflation are studied in microeconomics.(T/F)? 2. During a re

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1 Economic Phenomena Such As The Rate Of Unemployment And Inflation Are Studied In Microeconomics T F 2 During A Re 1 (100.55 KiB) Viewed 88 times

1. Economic phenomena such as the rate of unemployment and inflation are studied in microeconomics.(T/F)? 2. During a recession, the economy often has higher rates of unemployment, whereas during a boom, the economy often has higher rates of inflation.(T/F)? 3. How does Specialization increase production? 4. Using your own example, explain opportunity cost. 5. What is the relationship between Division of labour and specialization. 6. Using your own example, distinguish between macro and micro economics. 7. Why are economic models useful? 8. Distinguish between fiscal and monetary policy