Multiple Choice
Why did the budget deficit in the United States grow at the beginning of the coronavirus pandemic in 2020?
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1. Introduction to Macroeconomics
Introduction to Economics
Multiple Choice
In introductory economics, which of the following is a social aggregate?
A
The number of hours a single worker is employed per week
B
The price of a specific brand of coffee in one city
C
The overall unemployment rate in a country
D
An individual consumer’s monthly income
Verified step by step guidance1
Step 1: Understand the concept of a social aggregate. A social aggregate refers to a statistic or measure that summarizes the behavior or characteristics of a group or society as a whole, rather than an individual.
Step 2: Analyze each option to determine whether it represents an individual or a group measure. For example, 'the number of hours a single worker is employed per week' refers to an individual, not a group.
Step 3: Recognize that 'the price of a specific brand of coffee in one city' is a market price, not a social aggregate because it does not summarize a social group’s behavior or characteristics.
Step 4: Identify that 'the overall unemployment rate in a country' is a social aggregate because it measures the proportion of unemployed individuals within the entire labor force of a country, summarizing a societal-level statistic.
Step 5: Confirm that 'an individual consumer’s monthly income' is an individual-level measure, not a social aggregate, since it pertains to one person rather than a group.
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