There is insufficient iron which impedes the synthesis of hemoglobin, thereby reducing the amount of oxygen transported in the blood. RBCs are small (microcytic) and have less color (hypochromic). Causes: low iron content, chronic blood loss, impaired absorption (malabsorption), liver disease, and infections or malignancies. Diagnostic tests: CBC (Hct, MCV, MCHC), serum ferritin, serum iron, TIBC, peripheral blood smear, reticulocyte count.