In the quantity equation framework for understanding the determinants of long-run inflation, a drop in consumer confidence ________ velocity, putting ________ pressure on inflation

Which of the following statements correctly highlights the difference between microeconomics and macroeconomics?

A) Microeconomics is descriptive, whereas macroeconomics is advisory. B) Microeconomics primarily deals with positive analysis, whereas macroeconomics primarily deals with normative analysis. C) Microeconomics deals with a small part of the economy, whereas macroeconomics deals with aggregate economic performance. D) Microeconomics describes what economic agents actually do, whereas macroeconomics describes what economic agents ought to do.

The Valley View town council has just purchased a lot and built a soccer field for free public use. What is the main cost of the soccer field to the average citizen?

a. There is no cost because anyone can use it. b. The cost is the lost chance to do other things with the money and land. c. The cost is the user fee required to play soccer there. d. The cost is the salaries of the public officials who made the decision.