Which of the following would be a topic emphasized in a microeconomics class?
A) How a nation's GDP is computed.
B) The reasons why the unemployment rate for the economy is rising or falling.
C) How market conditions determine the price of a specific product.
D) How the government can use fiscal and monetary policies to stabilize the economy.

Question

Quizplus · Accepted Answer

Microeconomics is the study of the behavior of individual agents, such as consumers, firms, and markets, and how they interact to determine the price and quantity of goods and services. The topic of market conditions and how they determine the price of a specific product falls under the scope of microeconomics. The other options are related to macroeconomics, which deals with the study of the economy as a whole.

Which of the Following Would Be a Topic Emphasized in a Microeconomics