Macro & Micro economics

Macro & Micro economics
Project description
Instructions: Please answer the 5 Macroeconomic questions By a writer who is Knowledgable of Macroeconomics. Please see further uploaded Instructions. Thank you.
Textbook: “Principles of Economics” Sixth-Edition by, N Gregory Mankiw
Homework is read Chapter 1 & 2 answer:
1. Give three examples of the important trade-offs that you face in your life.
2. Why is productivity important?
3. What is the difference between a positive and a normative statement? Give an example of each.
Chapter 23 & 24
4. Explain why an economy’s income must equal its expenditure.
5. Why is it desirable for a country to have a large GDP? Give an example of something that would raise GDP and yet be undesirable.