Section: Principles of Macroeconomics

1) Which of the following does not refer to macroeconomics?

1. The study of the cause of inflation.
2. The study of the economic behavior of individual decision-making units such as consumers, resource owners, and business firms.
3. The study of the cause of unemployment.
4. The study of the aggregate level of economic activity.

Macroeconomics is the study of the cause of inflation, unemployment, and the aggregate level of economic activity.