Which of the Following Questions Is More Likely to Be

question 128

Multiple Choice

Which of the following questions is more likely to be studied by a macroeconomist than a microeconomist?

• A)Why do prices in general rise by more in some countries than others?
• B)Why do wages differ across industries?
• C)Does education increase a worker's income on average?
• D)Is there usually a gain from trade between two countries?

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Definitions:

Great Recession

The Great Recession refers to the global economic downturn that occurred from 2007 to 2009, marked by significant financial crises, high unemployment, and contraction in the world economy.

Goods

Tangible products that fulfill the needs or desires of consumers.

Services

Economic activities that typically involve providing intangible products such as healthcare, entertainment, and consulting.

Macropolicy Dilemmas

Refers to conflicts or challenges in creating policies that affect the overall economy, often involving trade-offs between conflicting economic goals like inflation and unemployment.