Which of the Following Statements Pertains to Macroeconomics

question 264

Multiple Choice

Which of the following statements pertains to macroeconomics?

• A)Because the minimum wage was raised, Mrs.Beepath decided to enter the labour force.
• B)A decline in the price of soybeans caused farmer Wanek to plant more land in wheat.
• C)The national productivity rate grew by 1.4 percent last year.
• D)The Pumpkin Center Chartered Bank increased its interest rate on consumer loans by 1 percent.

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Definitions:

Social Cognition

The study of how people process, store, and apply information about other people and social situations.

Social Influences

The effects that the words, actions, or mere presence of other people have on an individual's thoughts, feelings, attitudes, or behavior.

Thought

The mental process of considering, reasoning, or remembering.

Stanford Prison Study

A psychological experiment conducted in 1971 by Philip Zimbardo at Stanford University, illustrating the effects of perceived power and authority on behavior.