Answer to Question #170520 in Microeconomics for Dennis Yawson

Question

Question 1 Classify the following topics as relating to microeconomics or macroeconomics a. Jospong Group of Companies decision about how many towing trucks to purchase. b. Esther’s budget on how much to spend on transport. c. The relationship between the supply of money and the general price levels. d. The impact of high public debts on private sector investment. e. The effect of government policies on inflation. Question 2 Identify these statements as Positive or Normative a. Housing prices are too high in Accra b. Ghana was adjudged the seventh filthiest country in the world in 2015 c. Since we indirectly pay NHIL, everyone ought to enrol on the NHIS. d. In order for Ghana to improve upon its trade balance, citizens should adopt the habit of consuming made in Ghana goods. e. The developing world, particularly Africa has experienced the highest urban growth at 3.5% per year in the past two decades f. I don’t think there should be any landfill sites because these things that we call waste are raw material that we need to produce either energy, compost or something else

Answer 1

1.a)Jospong Group of Companies decision about how many towing trucks to purchase. - Microeconomics

b). Esther’s budget on how much to spend on transport-Microeconomics

c) . The relationship between the supply of money and the general price levels-Macroeconomics

d) . The impact of high public debts on private sector investment-Macroeconomics

e) . The effect of government policies on inflation-Macroeconomics

2.a) . Housing prices are too high in Accra-Normative

b) . Ghana was adjudged the seventh filthiest country in the world in 2015-Positive

c) . Since we indirectly pay NHIL, everyone ought to enrol on the NHIS-Normative

d) . In order for Ghana to improve upon its trade balance, citizens should adopt the habit of consuming made in Ghana goods-Normative

e) . The developing world, particularly Africa has experienced the highest urban growth at 3.5% per year in the past two decades - Positive

f) . I don’t think there should be any landfill sites because these things that we call waste are raw material that we need to produce either energy, compost or something else-Normative