Which of the following headlines would be more closely related to what macroeconomists study than what microeconomists study?
A)Avocado prices rise due to a late frost in California.
B)The United Auto Workers sign a contract raising wages and benefits 7% over the next 3 years.
C)Real GDP grows by 2.3% in the second quarter.
D)Airlines raise ticket prices in response to rising fuel costs.

Question

Quizplus · Accepted Answer

Macroeconomists study the overall performance and health of the economy, including factors like GDP (gross domestic product) growth, inflation, and unemployment rates. Real GDP growth is a measure of the overall economic performance of a country, and is thus more closely related to macroeconomics than microeconomics, which is concerned with the behavior of individual consumers and firms. The other choices are more microeconomic in nature, as they focus on specific industries or markets (avocado prices, auto workers' wages, airline ticket prices).

Which of the Following Headlines Would Be More Closely Related