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Which of the following is not considered a macro outcome? a
Which of the following is not considered a macro outcome?
a. The level of unemployment,
b. External shocks such as weather,
c. The average price of goods and services,
d. The year-to-year expansion in overall productive capacity.
Expert Solution
The correct option is b. External shocks such as weather.
Explanation:
The macro-level of economics refers to the study of economic factors as a whole. The unemployment rate, price level, and overall productivity are the macro outcomes. In contrast, external shocks such as weather are not a macro outcome. It affects the demand and supply of a few consumers and suppliers, which makes it the component of the microeconomics study.
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