Which of the Following Concepts Would Be Addressed by Microeconomics

question 185

Multiple Choice

Which of the following concepts would be addressed by microeconomics?

• A) national unemployment rate
• B) reasons for a decline in a country's total output
• C) price of college tuition that an individual student pays
• D) inflation rate in Brazil

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Definitions:

Human Capital

The stock of skills, knowledge, and social and personality attributes, including creativity, embodied in the ability to perform labor so as to produce economic value.

Compensating Differential

A difference in wages that arises to compensate employees for unpleasant aspects of a job, such as risk of injury or inconvenient work hours.

Eye Surgeon

A medical doctor specializing in the diagnosis and surgical treatment of disorders and diseases of the eye.

International Trade

The exchange of goods and services between countries, across their international borders.