Which of the Following Is Considered a Microeconomic Issue

question 29

Multiple Choice

Which of the following is considered a microeconomic issue?

• A) The local university decides to raise tuition for online course offerings.
• B) The country of Zimbabwe has experienced a decline in inflation.
• C) The economic growth rate was reported at 2.4 percent in the first quarter of 2013 for the United States.
• D) The unemployment rate in Greece is 22.8 percent.

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Definitions:

Relative Homogeneity Effect

A perception bias where individuals see out-group members as more similar to each other than in-group members, often leading to stereotyping.

Heterogeneous

Consisting of elements or components that are different from each other; diverse in character or content.

Outgroups

Groups to which an individual does not belong, often perceived as different or alien compared to the individual's own group (ingroup).

Prototype

Cognitive representation of the typical/ideal defining features of a category.