Which of the following does macroeconomics endeavor to answer?
i. Why is the typical person in the United States today more than 10 times richer than the typical person a century ago?
ii. Why has the unemployment rate been nearly twice as high in Europe as in the United States in recent years?
iii. What determines the rate of inflation? What determines how rapidly the overall price level in an economy increases?
A) i only
B) i, ii, and iii
C) ii only
D) i and ii
E) ii and iii

Question

Quizplus · Accepted Answer

Macroeconomics deals with the study of the overall performance and behavior of the economy. Hence, it endeavors to answer all the given questions related to the overall performance of the economy such as the reasons behind rising prosperity over time (i), the unemployment rate differences between different countries (ii), and factors responsible for the overall price level and inflation rate (iii).

Which of the Following Does Macroeconomics Endeavor to Answer