Final answer:
An examination of consumer behavior is the subject of microeconomics, which focuses on the decision-making processes of individuals and businesses to maximize utility within budget constraints.
Step-by-step explanation:
The question, 'Which of the following can best be characterized as a subject of microeconomics?' can be answered by understanding the core difference between microeconomics and macroeconomics. Microeconomics is concerned with the actions and behavior of individual economic agents, such as households, workers, and businesses, primarily how they make decisions within budget constraints to maximize utility. Macroeconomics, on the other hand, looks at the economy as a whole, focusing on broad issues such as economic growth, unemployment, price levels, and monetary policies.
Of the four options provided:
- An examination of a country's economic growth
- An examination of consumer behavior
- An examination of an economy's price level
- An examination of monetary policy
Option 2. An examination of consumer behavior is the one that can best be characterized as a subject of microeconomics. This option directly relates to how individuals and businesses make choices about what goods and services to buy, which is a fundamental aspect of microeconomic study.
It is important to differentiate between the two branches of economics to properly categorize economic subjects and understand their impacts on different scales within the economy.