Which of the following can best be characterized as a subject of macroeconomics?

• A. The consumer choices of an individual household
• B. The overall unemployment rate in a country
• C. The pricing strategy of a single firm
• D. The cost structure of a specific industry

Answer: (B)

Verified step by step guidance

1. Step 1: Understand the scope of macroeconomics. Macroeconomics studies the behavior and performance of an economy as a whole, focusing on aggregate indicators such as GDP, unemployment rates, inflation, and national income.
2. Step 2: Identify the subjects listed in the problem and classify them as either microeconomic or macroeconomic. For example, consumer choices of an individual household and pricing strategies of a single firm are microeconomic topics because they focus on individual agents.
3. Step 3: Recognize that the overall unemployment rate in a country is an aggregate measure that reflects the health of the entire labor market and economy, which is a key concern of macroeconomics.
4. Step 4: Understand that the cost structure of a specific industry, while important, typically falls under microeconomics because it deals with a particular sector rather than the economy-wide perspective.
5. Step 5: Conclude that the best characterization of a macroeconomic subject among the options is the overall unemployment rate in a country, as it deals with aggregate economic performance.