KEY QUESTION Indicate whether each of the following statements applies to microeconomics or macroeconomics:

a. The unemployment rate in the United States was 5.2 percent in January 2005.

b. A U.S. software firm discharged 15 workers last month and transferred the work to India.

c. An unexpected freeze in central Florida reduced the citrus crop and caused the price of oranges to rise.

d. U.S. output, adjusted for inflation, grew by 3.5 percent in 2005.

e. Last week Wells Fargo Bank lowered its interest rate on business loans by one-half of 1 percentage point.

f. The consumer price index rose by 3.4 percent in 2005.