Which of the following is more of a microeconomic concept than a macroeconomic concept?
A)Concern over simultaneous high rates of inflation and unemployment
B)Price determination in the resource market
C)The rate of economic growth
D)Concern over an entire economy's balance of payments
E)How the composition of output is determined in an economy

Question

Quizplus · Accepted Answer

Price determination in the resource market is a microeconomic concept because it focuses on the interactions between individual buyers and sellers in a specific market, whereas concerns over inflation and unemployment, economic growth, balance of payments, and composition of output are all macroeconomic concepts that focus on the overall performance of an economy.

Which of the Following Is More of a Microeconomic Concept