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Questions and Answers
Which branch of economics analyzes the economy as a system where production, consumption, saving, and investment interact?
Which branch of economics analyzes the economy as a system where production, consumption, saving, and investment interact?
- Macroeconomics (correct)
- Positive economics
- Rational economics
- Normative economics
What does microeconomics analyze in the economy?
What does microeconomics analyze in the economy?
- Macroeconomic factors
- Currency inflation
- Public policies
- Individual agents and markets (correct)
What does normative economics advocate?
What does normative economics advocate?
- "Basic elements in the economy"
- "What is"
- "What ought to be" (correct)
- "How economies work"
In which areas can economic analysis be applied throughout society?
In which areas can economic analysis be applied throughout society?
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What does mainstream economics focus on?
What does mainstream economics focus on?
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