Name : Adrian Andronic Class Period : 1 Date: 8/19/22 Differentiating Economics Activity 1.3.3 Determine if each of the following statements would be studied in Microeconomics or Macroeconomics. 1. How does trade with Europe affect the United States economy? 2. How does a retailer determine the price of socks? 3. Is it better to take the babysitting job or stay unemployed? 4. Should the minimum wage be increased? 5. How does the national debt impact employment? Determine if each of the following statements is positive or normative. 1. It is the government's responsibility to help the poor. 2 . The United States should place taxes on foreign goods. Positive 3. The inflation rate was 3% last year. 4. We need to raise minimum wage in the United States. Normatives. Generally, a rise in price will cause a decrease in the number of buyers who want to purchase a product. 1/8 from June 42393 2014 BFW/Worth Publishers Explorations in Economics 10