Which question is an illustration of a microeconomic question?
A) Is the volume of wine produced in one year dependent upon the price of wine?
B) Does government spending influence interest rates in the economy?
C) Is the purchasing power of the dollar higher or lower today than it was in 2008?
D) Which economic system is better for consumers and firms?

Question

Quizplus · Accepted Answer

This question is focused on the relationship between the price of wine and the volume produced, which is an example of a microeconomic question that looks at the behavior of individual markets and how they interact. The other options are more focused on macroeconomic questions related to variables that affect the economy as a whole, such as government spending, inflation, and economic systems.

Which Question Is an Illustration of a Microeconomic Question