Which of the Following Is Considered a Macroeconomic Question

question 47

Multiple Choice

Which of the following is considered a macroeconomic question?

• A)How can one particular firm maximize profits?
• B)How does a family allocate income among various available goods and services?
• C)How can economic policy fight inflation?
• D)What factors determine the wage rate in a certain industry?
• E)What is the impact of competition on the profits of a business?

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Definitions:

Consideration

In contract law, consideration refers to something of value that is exchanged between parties as part of an agreement.

Bilateral Contract

A Bilateral Contract is an agreement involving two parties where each promises to perform an act in exchange for the other's act, creating mutual obligations.

Legality

The state or condition of being in accordance with the law or legal standards.

Express Contract

A clearly stated agreement between parties where terms are explicitly stated either orally or in writing.