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December 2016 Q2. (a) Identify each of the following statements as either microeconomics or macroeconomics. (i) The growth of US Gross Domestic Product (GDP) has
December 2016 Q2. (a) Identify each of the following statements as either microeconomics or macroeconomics. (i) The growth of US Gross Domestic Product (GDP) has slowed over the past several years. (ii) Prescription drug prices have increased dramatically over the last decade. (iii) The current unemployment rate in the US continues to be high relative to the 1990. (iv) Requiring retail firms to offer mandatory health benefits to workers would result in the loss of retail jobs. (v) Perodua decides to spend RM950 million on a new automobile industry. (vi) The profits of Nestle increased 35% during the past quarter
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