Employment in health care changed little in April (-4,000), as a job gain in ambulatory health care services (+21,000) was largely offset by a job loss in nursing care facilities (-19,000). Health care employment is down by 542,000 since February 2020. Employment in construction was unchanged over the month. Employment in the industry is up by 917,000 over the year but is 196,000 below its February 2020 level. In April, employment changed little in other major industries, including mining, wholesale trade, and information. In April, average hourly earnings for all employees on private nonfarm payrolls increased by 21 cents to $30.17, following a decline of 4 cents in the prior month. In April, average hourly earnings for private-sector production and nonsupervisory employees rose by 20 cents to $25.45. The data for April suggest that the rising demand for labor associated with the recovery from the pandemic may have put upward pressure on wages. Since average hourly earnings vary widely across industries, the large employment fluctuations since February 2020 complicate the analysis of recent trends in average hourly earnings. (See tables B-3 and B-8.)Employment in health care changed little in April (-4,000), as a job gain in ambulatory health care services (+21,000) was largely offset by a job loss in nursing care facilities (-19,000). Health care employment is down by 542,000 since February 2020. Employment in construction was unchanged over the month. Employment in the industry is up by 917,000 over the year but is 196,000 below its February 2020 level. In April, employment changed little in other major industries, including mining, wholesale trade, and information. In April, average hourly earnings for all employees on private nonfarm payrolls increased by 21 cents to $30.17, following a decline of 4 cents in the prior month. In April, average hourly earnings for private-sector production and nonsupervisory employees rose by 20 cents to $25.45. The data for April suggest that the rising demand for labor associated with the recovery from the pandemic may have put upward pressure on wages. Since average hourly earnings vary widely across industries, the large employment fluctuations since February 2020 complicate the analysis of recent trends in average hourly earnings. (See tables B-3 and B-8.)

Question seven

1. In broad terms the difference between microeconomics and macroeconomics is that

2. Studying the determination of prices in individual markets is primarily a concern of

3. The analysis of the behavior of individual decision-making units is the definition of

4. Which of the following topics would be studied in a microeconomics course?

5. Which of the following is a macroeconomic issue?

6. Which of the following is an issue in macroeconomics?

7. Macroeconomic topics include

8. Macroeconomics is the branch of economics that studies

9. When an economy produces more houses and fewer typewriters, it is answering the ________ question.

10. When firms in an economy start producing more computers and fewer televisions, they are answering the ________ question