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Questions and Answers
What is the focus of microeconomics?
What is the focus of microeconomics?
- Analyzing the economy as a system
- Advocating for economic growth
- Describing 'what ought to be'
- Analyzing individual agents and markets (correct)
What does macroeconomics analyze?
What does macroeconomics analyze?
- Describing 'what is'
- Advocating for economic growth
- Analyzing individual agents and markets
- The economy as a system with production, consumption, saving, and investment (correct)
What does normative economics advocate?
What does normative economics advocate?
- Describing 'what is'
- Advocating 'what ought to be' (correct)
- Analyzing the economy as a system
- Analyzing individual agents and markets
Where can economic analysis be applied?
Where can economic analysis be applied?
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What are the broad distinctions within economics?
What are the broad distinctions within economics?
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What is the focus of normative economics?
What is the focus of normative economics?
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In what way does behavioural economics differ from rational economics?
In what way does behavioural economics differ from rational economics?
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Where can economic analysis be applied?
Where can economic analysis be applied?
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What are the main elements analyzed in microeconomics?
What are the main elements analyzed in microeconomics?
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What does positive economics describe?
What does positive economics describe?
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