Like everything else it depends. Micrometers are only made in 1"(25mm) increments. 0-1", 1-2", 3-4" ect. ect.(Ok I know you can get a set that has a range of extensions and calibration standards that will go up to many inches or feet)
Calipers can be bought 0-4", 0-6", 0-8" ect. I have a 24" set at work.
Micrometers are always more accurate than calipers(guess sticks). An experienced person can accurately measure with a micrometer better than .0001". That is what you would want for crank or cam bearing journals.
Calipers will measure things that micrometers can't of course. Just because the resolution of the caliper is .0005" doesn't mean it is that accurate though. To measure with a pair of calipers one must be familiar with that set of calipers and have experience with calipers in general.
So as I said...it depends.
Calipers would be good enough for pallet shims.
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