Which of the following statements pertains to macroeconomics?
A) Because the minimum wage was raised,Mrs.Olsen decided to enter the labor force.
B) A decline in the price of soybeans caused farmer Wanek to plant more land in wheat.
C) National income grew by 2.7 percent last year.
D) The Pumpkin Center State Bank increased its interest rate on consumer loans by 1 percentage point.

Question

Quizplus · Accepted Answer

Macroeconomics is concerned with the overall performance of the economy, including measures of national income (such as gross domestic product) and other aggregate economic indicators.

Answer: D
 This statement pertains to microeconomics, which focuses on the behavior of individual agents such as consumers, firms, and banks. The interest rate change affects the bank's customers and may influence their spending and borrowing decisions, but it does not provide information about the overall performance of the economy.

Which of the Following Statements Pertains to Macroeconomics