Which of the Following Questions Have a Macroeconomic Focus

question 131

Multiple Choice

Which of the following questions have a macroeconomic focus?

• A) How does a monopolist decide how much to produce?
• B) What is the unemployment rate in your country?
• C) How does the demand for a good change when there is an increase in a consumer's income?
• D) How does a consumer choose which goods to consume given his or her income?

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Definitions:

Markup

The percentage of the cost added to the cost price of items to cover overhead expenses and profit.

Job M

A specific task, project, or batch of work, often associated with job costing, designated by the letter 'M'.

Total Job Cost

The complete cost of a specific job, including all direct materials, direct labor, and overhead applied to that job.

Overhead Applied

The amount of overhead cost allocated to produced goods, based on a predetermined overhead rate.