Which of the following is a microeconomic statement?
A) The unemployment rate fell by 2%.
B) All businesses in the United States experienced a decrease in revenues of 5% due to the recession.
C) About 15% of the teachers were laid off last week.
D) GDP increased by 6% last quarter.

Question

Quizplus · Accepted Answer

Statements A, B, and D are macroeconomic statements as they refer to overall economic growth, unemployment at a national level, and aggregate revenue of businesses in the United States. Statement C, on the other hand, is a microeconomic statement as it refers to a specific group of individuals (teachers) and their employment status within a specific locality or institution.

Which of the Following Is a Microeconomic Statement