Which of the Following Statements Pertains to Macroeconomics

question 161

Multiple Choice

Which of the following statements pertains to macroeconomics?

• A) Because the minimum wage was raised, Mrs. Olsen decided to enter the labor force.
• B) A decline in the price of soybeans caused farmer Wanek to plant more wheat.
• C) National income grew by 2.7 percent last year.
• D) The Pumpkin Center State Bank increased its interest rate on consumer loans by 1 percentage point.

---

Definitions:

Socially Embedded

The concept of individuals or actions being situated within and influenced by a network of social relationships and structures.

Left-Handedness

The preference for using the left hand for dominant activities, such as writing or throwing, exhibited by a minority of the population.

Cross-Cultural Researchers

Scholars who investigate the variations and universalities in psychological functioning across different cultures and societies.

Tight Culture

A culture that has strict social norms and a low tolerance for deviant behaviors.