Which of the following is a microeconomic statement?
A) The real domestic output increased by 1.6 percent last year.
B) Unemployment was 5.2 percent of the labor force last year.
C) The price of smartphones declined 2.8 percent last year.
D) The general price level increased by 1.1 percent last year.

Question

Quizplus · Accepted Answer

The statement about the price of smartphones is a microeconomic statement as it refers to the price of a specific product in the market. The other statements are macroeconomic statements as they refer to the overall economic indicators of a country.

Which of the Following Is a Microeconomic Statement