All of the Following Except _____ Are Important Macroeconomic Variables

question 26

Multiple Choice

All of the following except _____ are important macroeconomic variables.

• A)real GDP
• B)the unemployment rate
• C)the marginal rate of substitution
• D)the inflation rate

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Definitions:

Marginal Utility

The additional satisfaction or utility a consumer receives from consuming one more unit of a good or service.

Marginal Utility

Marginal utility represents the additional satisfaction or utility a consumer gains from consuming one more unit of a good or service.

Total Utility

The sum satisfaction or benefit that a consumer receives from consuming a particular quantity of goods or services.

Consumer Surplus

The variance between the aggregate sum consumers are prepared and able to spend on a good or service versus what they truly pay.