Which of the Following Is a Macroeconomic Issue

question 97

Multiple Choice

Which of the following is a macroeconomic issue?

• A) The price of a ticket to Walt Disney World in Orlando is increased.
• B) The National Football League signs a new television contract.
• C) The number of jobs and production in Zimbabwe increase.
• D) The Iowa corn harvest is smaller than normal.
• E) Utilities are required to install more anti-pollution devices.

Comprehend the concept of opportunity cost and its relevance in decision-making.

Identify the reasons opportunity costs arise due to the scarcity of resources.

Calculate the opportunity cost of attending college considering various financial aspects.

Understand the concept of marginal cost in different contexts.

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Definitions:

Criminal Law

The branch of law that defines and punishes wrongful actions committed against the public.

Legal Positivism

A school of legal thought centered on the assumption that there is no law higher than the laws created by a national government. Laws must be obeyed, even if they are unjust, to prevent anarchy.

Natural Law

The oldest school of legal thought, based on the belief that the legal system should reflect universal (“higher”) moral and ethical principles that are inherent in human nature.

Monetary Damages

Financial compensation awarded to an individual for loss or injury as a result of the violation of a legal right.