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Questions and Answers
What does microeconomics analyze?
What does microeconomics analyze?
- Individual agents and markets (correct)
- International trade dynamics
- Global economic policies
- National economic systems
What does macroeconomics analyze?
What does macroeconomics analyze?
- Market fluctuations in specific industries
- Microeconomic behaviors of individual agents
- Economy as a system and its interactions (correct)
- Regional economic disparities
What is the distinction between positive economics and normative economics?
What is the distinction between positive economics and normative economics?
- 'What ought to be' vs 'what should be'
- Describing 'what is' vs advocating 'what ought to be' (correct)
- 'What should be' vs 'what is practical'
- 'What is' vs 'what might be'
Where can economic analysis be applied?
Where can economic analysis be applied?
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What does mainstream economics focus on?
What does mainstream economics focus on?
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