Which of the Following Is a Macroeconomic Statement

question 176

Multiple Choice

Which of the following is a macroeconomic statement?

• A)The gross profits of all Canadian businesses were $70 billion last year.
• B)The price of beef declined by 3 percent last year.
• C)General Motors' profits increased in 2012.
• D)The productivity of steelworkers increased by 1 percent in 2012.

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Definitions:

Income Effect

The change in an individual's or economy's income and how that change will affect the quantity demanded of a good or service.

Apartment Rents

The payment made periodically by a tenant to a landlord for the use and occupancy of an apartment.

Chewing Gum

Chewing gum is a type of flavored and chewable confectionery designed to be chewed without being swallowed.

Gold Jewelry

Ornamental items made of gold, often used as a form of adornment or investment.