Which of the following is not an abstraction of macroeconomics?
A)Inflation rate
B)Total costs
C)Unemployment
D)Aggregate supply

Question

Quizplus · Accepted Answer

Total costs are not typically considered an abstraction of macroeconomics. Abstractions of macroeconomics typically focus on larger economic concepts that affect the entire economy or a significant portion of it, such as inflation rate, unemployment, and aggregate supply. Total costs may be important for individual businesses, but they are not as closely tied to macroeconomic trends.

Which of the Following Is Not an Abstraction of Macroeconomics