Which of the following is a macroeconomic statement?
A) Unionized workers for Ford went on strike for higher wages.
B) The price of wheat doubled in the past month.
C) Forest fires destroyed thousands of hectares in Western Canada.
D) The demand for smart phones increased by 10% this year
E) National output fell by 1% last year.

Question

Quizplus · Accepted Answer

The statement "National output fell by 1% last year" is a macroeconomic statement as it refers to the overall performance of the economy. The other statements are either microeconomic (A and D) or related to natural disasters (C) or sudden changes in commodity prices (B).

Which of the Following Is a Macroeconomic Statement