Which of the following is not considered a macro outcome? a

Economics Dec 14, 2020

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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