Which of the Following Areas of Study Typifies Macroeconomics as Opposed

question 36

Multiple Choice

Which of the following areas of study typifies macroeconomics as opposed to microeconomics?

• A)the effects of rent control on the availability of housing in New York City
• B)the economic impact of tornadoes on cities and towns in Oklahoma
• C)how tariffs on shoes affects the shoe industry
• D)the effect on the economy of changes in the nation's unemployment rate

---

Definitions:

Trade Adjustment Assistance

A federal program that provides aid to workers who lose their jobs or whose hours and wages are reduced as a result of increased imports.

Aggregate Demand

The total demand for all goods and services within an economy at a given overall price level and in a given time period.

Protectionism

A policy of imposing restrictions on imports, often through tariffs and quotas, to shield domestic industries from foreign competition.

Frederic Bastiat

A French economist and writer known for his advocacy of free-market policies and his critique of protectionism in the 19th century.