Which of the Following Is a Microeconomic Question

question 117

Multiple Choice

Which of the following is a microeconomic question?

• A) Should the government decrease unemployment benefits to reduce the unemployment rate ?
• B) Why do some countries have higher inflation rates than other countries?
• C) Should the government subsidize corn farmers to encourage the production of ethanol?
• D) Should congress decrease taxes to help stimulate the economy?

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Definitions:

Informal Status

A social ranking or position attained by an individual within a group based on interaction, respect, or popularity rather than official roles.

Status Symbols

Objects or signals that serve to indicate an individual's social position or economic wealth to others.

Normative Influence

The impact of social norms and the expectations of others on an individual's behavior, encouraging conformity to group standards.

Norms

Collective expectations that members of social units have regarding the behavior of each other.