Economics: Basics and Beyond
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Questions and Answers

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?

  • 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?

  • 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?

    <p>Rational economics (D)</p> Signup and view all the answers

    What does macroeconomics primarily analyze?

    <p>'The economy as a system where production, consumption, saving, and investment interact' (D)</p> Signup and view all the answers

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