Which of the following is a microeconomic issue?
A) The Australian government cuts taxes to combat a recession.
B) The inflation rate fell this year.
C) The quantity of wheat grown in South Australia increases this year.
D) Growth in the Australian economy slowed.
E) Increased federal government expenditures have lowered the unemployment rate.

Question

Quizplus · Accepted Answer

The quantity of wheat grown in South Australia increasing is a microeconomic issue because it focuses on the production and decision-making of individual farmers or firms within a specific market. The other answer choices are macroeconomic issues, as they deal with the overall performance of the entire economy.

Which of the Following Is a Microeconomic Issue