Which of the Following Is a Microeconomic Issue

question 107

Multiple Choice

Which of the following is a microeconomic issue?

• A)Inflation skyrockets in Russia.
• B)The price of gasoline increases in the United States this year.
• C)The Brazilian economy experiences rapid economic growth.
• D)The U.S. government cuts taxes to combat a recession.
• E)The unemployment rate soars in Spain.

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Definitions:

Controllable Costs

Expenses that a manager or business can influence or manage directly, such as supplies, marketing expenses, and staff wages.

Responsibility Accounting System

A system of accounting that segments financial data and operational data by areas of responsibility, facilitating monitoring and assessment of individual departments or managers.

Responsibility Center

A segment within an organization with its own budgets and financial targets, where the managers are accountable for its performance.

Evaluation Process

A systematic method to assess the performance, value, or impact of an object or effort through defined criteria and measures.