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Question
In each of the following decision situations, explain the trade-offs involved.
a. You need to decide whether to buy a used or a new car.
b. You are thinking about opening a computer-services business in your basement.
c. You are a consultant for the City of Toronto. The city council asks you to analyze the implications of a new high-rise office building downtown.
a. Identify each of the following topics as being part of microeconomics or macroeconomics:
i. Factors influencing the demand for cell phones
ii. The impact of tax policy on national saving
iii. The effect of pollution taxes on the Canadian coal industry
iv. The degree of competition in the airline industry
This document contains various important questions and their appropriate answers in the subject field of Economics.
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