Macroeconomics Studies the Following Topics

question 85

Multiple Choice

Macroeconomics studies the following topics:

• A)national output, the inflation rate, and the trade deficit.
• B)the price of Cisco stock and wage differences.
• C)differences in market structure.
• D)all of the above.

Understand how to calculate and simplify ratios.

Solve basic and complex proportion problems.

Interpret and analyze sales data and other business-related figures through percentages and ratios.

Apply understanding of ratios and proportions to various real-life business and economics contexts including partnership and investment scenarios.

---

Definitions:

Price Takers

Economic agents who accept market prices as given because they do not have enough market power to influence those prices.

Strategic Behavior

Actions taken by firms or individuals that consider the responses or reactions of other participants and attempt to influence outcomes.

Product Differentiation

The method of differentiating a product or service from competitors in the marketplace to enhance its appeal to a specific target audience.

Barriers

Obstacles that prevent new competitors from easily entering an industry or area of business.