(a) Are business managers microeconomic or macroeconomic market participants? Explain.
(b) Why do most business managers take market conditions as given to their firm?
(c) Provide an example of a macroeconomic event that would affect firms.
(d) Provide an example of a microeconomic event that would affect firms.
(e) Explain how a microeconomic view of international trade differs from a macroeconomic view of international trade.