Which of the Following Is a Macroeconomic Statement

question 176

Multiple Choice

Which of the following is a macroeconomic statement?

• A)The gross profits of all Canadian businesses were $70 billion last year.
• B)The price of beef declined by 3 percent last year.
• C)General Motors' profits increased in 2012.
• D)The productivity of steelworkers increased by 1 percent in 2012.

Identify changes in consumer utility with successive units of consumption.

Analyze the impact of changes in prices on the utility-maximizing combination of goods.

Interpret the significance of negative marginal utility.

Understand the budget line and how it represents all the combinations of goods a consumer can buy with a specific income.

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Definitions:

Cheap Land

Land that is available for purchase at a relatively low cost, often enticing settlers and investors to new areas or the frontiers.

Appalachian Mountains

A mountain range in the eastern United States, running from Canada to Alabama, known for its biodiversity and the cultural heritage of its inhabitants.

Andrew Jackson

The seventh President of the United States (1829–1837), known for his populist policies, but also for his role in the Indian Removal Act, which led to the Trail of Tears.