Which of the following is a microeconomic issue?
A) The price of gasoline increases in the United States this year.
B) The Brazilian economy experiences rapid economic growth.
C) The unemployment rate soars in Spain.
D) Inflation skyrockets in Russia.
E) The U.S. government cuts taxes to combat a recession.

Question

Quizplus · Accepted Answer

The price of gasoline increasing in the United States is a microeconomic issue because it directly affects individual consumers and businesses. Microeconomics deals with analyzing the behavior of individual markets and the decisions made by individual economic agents such as consumers and firms. The other options are macroeconomic issues as they relate to the overall economy or large-scale trends.

Which of the Following Is a Microeconomic Issue