Which of the Following Is a Macroeconomic Statement

question 11

Multiple Choice

Which of the following is a macroeconomic statement?

• A) Motorcycle manufacturer productivity decreased by three percent in 2016.
• B) The price of cell phones decreased by 18 percent last year.
• C) Real domestic output of seafood increased 12 percent from 2015 to 2016.
• D) The U.S. inflation rate was two percent in 2016.

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Definitions:

Economic Profit

The profit or loss that a company makes, calculated by subtracting both the explicit and implicit costs from total revenues.

MR Curve

The Marginal Revenue curve represents the change in total revenue that results from selling one additional unit of a good or service.

Opportunity Costs

The value of the best alternative forgone when a decision is made to pursue a certain action.

MR

Marginal Revenue, the increase in revenue that results from selling one additional unit of a product.