Which of the Following Is a Microeconomic Issue

question 89

Multiple Choice

Which of the following is a microeconomic issue?

• A) The Australian government cuts taxes to combat a recession.
• B) The inflation rate fell this year.
• C) The quantity of wheat grown in South Australia increases this year.
• D) Growth in the Australian economy slowed.
• E) Increased federal government expenditures have lowered the unemployment rate.

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Definitions:

Population

The total number of people inhabiting a particular territory or geographic area.

GDP Deflator

An economic metric that converts the money-value measure of GDP to a measure of real GDP by accounting for inflation or deflation.

GDP Deflator

A measure that reflects the prices of all goods and services produced domestically, accounting for inflation within a country's economy.

Base Year

A reference year against which economic growth, price changes, or other data is compared in indexes or other statistical measures.