How is gas prices considered microeconomics?
Alexis asked:
Since, inflation is considered macroeconomics and rising gas prices have an impact on inflation, how’s gas prices considered microeconomics?
Since, inflation is considered macroeconomics and rising gas prices have an impact on inflation, how’s gas prices considered microeconomics?
You kind of answered it in your question. You look at inflation as one big thing, and then you dissect what causes it, rising gas prices for example. Which makes it microeconomics when you start to look at the causes and individual companies.