Which of the following is a microeconomic statement?

A. The real domestic output increased by 2.5 percent last year.

B. Unemployment was 6.8 percent of the labor force last year.

C. The price of personal computers declined last year.

D. The general price level increased by 4 percent last year."

Question

Lucia Valentine

Business

6 September, 23:34

Which of the following is a microeconomic statement?

A. The real domestic output increased by 2.5 percent last year.

B. Unemployment was 6.8 percent of the labor force last year.

C. The price of personal computers declined last year.

D. The general price level increased by 4 percent last year."

+5

Answers (1)

Know the Answer?

Arely Nicholson · Answer 1

C. The price of personal computers declined last year.

Explanation:

Microeconomics is the branch of economics that focuses on the choices made by households and firms as they allocate their scarce resources to meet different needs. Microeconomics is the study of how individual firms and household decisions affect price, demand, profits, and supply in the market place.

Microeconomics contrasts macroeconomics, which studies the aggregate indicators of a country's economy as a whole. The price of personal computers affects firms and consumers of computers as a product. The decline in computer prices is a micro-economic concern as it relates to a particular product, and not prices in the entire economy.

Which of the following is a microeconomic statement?A. The real domestic output increased by 2.5 percent last year.B. Unemployment was 6.8 percent of the labor force last year.C. The price of personal computers declined last year.D. The general price level increased by 4 percent last year."

Which of the following is a microeconomic statement?

A. The real domestic output increased by 2.5 percent last year.

B. Unemployment was 6.8 percent of the labor force last year.

C. The price of personal computers declined last year.

D. The general price level increased by 4 percent last year."