Which one of the following firms is likely to exhibit the least macro risk exposure?

Question

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The dog food processor is likely to exhibit the least macro risk exposure as demand for pet food is relatively stable regardless of the economic conditions, in contrast to industries like airlines and auto manufacturers which are highly dependent on consumer discretionary spending and may be negatively impacted during economic downturns. The furniture manufacturer may also face some macro risk exposure as furniture purchases can also be discretionary and tied to overall economic conditions.

Which One of the Following Firms Is Likely to Exhibit