Which of the following statements pertains to macroeconomics? A

Economics Dec 08, 2020

Which of the following statements pertains to macroeconomics?

A. The Pumpkin Center State Bank increased its interest rate on consumer loans by 1 percentage point.

B. The national productivity rate grew by 2.7 percent last year.

C. A decline in the price of soybeans caused farmer Wanek to plant more land in wheat.

D. Because the minimum wage was raised, Mrs. Olsen decided to enter the labor force.

Expert Solution

The correct answer is B. The national productivity rate grew by 2.7 per cent last year.

Explanation: Increase in national productivity means that there is an increase in the gross domestic product of the country. GDP is a macroeconomic variable that determines the total output generated by a country in a financial year. And therefore, 'national productivity rate grew by 2.7 per cent last year' pertains to macroeconomics.

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