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Questions and Answers
What does microeconomics primarily analyze?
What does microeconomics primarily analyze?
- The application of economic analysis in diverse subjects
- The interactions of individual agents and markets (correct)
- The economy as a system including production and consumption
- Factors affecting employment and economic growth
What is the distinction between positive economics and normative economics?
What is the distinction between positive economics and normative economics?
- Positive economics analyzes rational economics, while normative economics analyzes behavioral economics
- Positive economics advocates 'what ought to be', while normative economics describes 'what is'
- Positive economics focuses on economic theory, while normative economics focuses on applied economics
- Positive economics describes 'what is', while normative economics advocates 'what ought to be' (correct)
Where can economic analysis be applied?
Where can economic analysis be applied?
- Business, finance, cybersecurity, health care, engineering, and government (correct)
- Individual agents, markets, and their interactions
- Crime, education, the family, feminism, law, philosophy, politics, religion, social institutions, war, science, and the environment
- Factors affecting employment and economic growth
What does mainstream economics primarily focus on?
What does mainstream economics primarily focus on?
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What does macroeconomics primarily analyze?
What does macroeconomics primarily analyze?
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