Macroeconomics is best defined by which of the following statements?
A) Macroeconomics is the study of how firms attempt to maximize profits.
B) Macroeconomics is the study of the behavior of the economy as a whole.
C) Macroeconomics is the study of individual households.
D) Macroeconomics is the study of how the prices of individual goods are determined.

Question

Quizplus · Accepted Answer

Macroeconomics specifically focuses on the economy as a whole, including topics such as inflation, unemployment, and economic growth. This is distinct from microeconomics, which focuses on the individual behavior of consumers, firms, and markets. Choices A, C, and D all relate more to microeconomic topics.

Macroeconomics Is Best Defined by Which of the Following Statements