Classify the following topics as primarily macroeconomic or microeconomic: 1. The impact of a tax increase on
Question:
Classify the following topics as primarily macroeconomic or microeconomic:
1. The impact of a tax increase on aggregate output.
2. The relationship between two competing firms’ pricing behavior.
3. A farmer’s decision to plant soy or wheat.
4. The effect of trade on economic growth.
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