Question: (a) Briefly explain whether you agree with the following assertion: Microeconomics is concerned with things that happen in one place, such as the unemployment in

(a) Briefly explain whether you agree with the following assertion: "Microeconomics is concerned with things that happen in one place, such as the unemployment in one city. In contrast, macroeconomics is concerned with things that affect the country, such as how the rate of teenage smoking in Kenya would be affected by an increase in the tax on cigarettes." [4 Marks]

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