8. The study of how consumers and producers interact in individual markets is a. macroeconomics b. labor economics c. microeconomics d. econometrics e. development economics 9. Suppose that the following headlines appeared in a newspaper. Which would most clearly represent a macroeconomic issue? A. “Central Bank Raises Interest Rates” b. “Auto Dealership to Cut Prices” c. “Fanny”s Freeze Dried Prunes to Lay Off 50 Workers” d. “United Workers Union to Strike April 15” e. “Brazilian Coffee Bean Crop Falls by 10 Percent” 10. An economist claims that “the evidence suggests that high rates of inflation are associated with slow long-term economic growth.” This is an example of a. positive economics b. normative economics c. negative economics d. a simplifying assumption e. microeconomic analysis 11. Which of the following is a normative statement? A. Fifteen percent of Americans go without health insurance in a year. B. The Consumer Price Index rose three-tenths of one percent in May.