Question : Which of the following is a macroeconomic variable?
Option 1: Price of a specific good
Option 2: Individual's income
Option 3: National unemployment rate
Option 4: Household consumption patterns
Correct Answer: National unemployment rate
Solution : The correct answer is (c) National unemployment rate.
Macroeconomics deals with the overall behavior and performance of an economy as a whole. It focuses on aggregate variables that measure the performance and health of the entire economy rather than individual units. The national unemployment rate is a macroeconomic variable that reflects the percentage of the labor force that is actively seeking employment but unable to find work. It provides insight into the overall state of the labor market and the level of economic activity in a country.
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