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Questions and Answers
Which branch of economics focuses on the behavior and interactions of economic agents and how economies work?
Which branch of economics focuses on the behavior and interactions of economic agents and how economies work?
- Microeconomics (correct)
- Macroeconomics
- Positive economics
- Normative economics
What does macroeconomics analyze?
What does macroeconomics analyze?
- Individual agents and markets
- Normative economics
- Factors affecting the economy (correct)
- Positive economics
What is the distinction between positive economics and normative economics?
What is the distinction between positive economics and normative economics?
- Positive economics focuses on individual agents and markets, while normative economics focuses on the economy as a system
- Positive economics analyzes factors affecting the economy, while normative economics analyzes individual agents and markets
- Positive economics describes 'what is', while normative economics describes 'what ought to be' (correct)
- Positive economics advocates 'what ought to be', while normative economics describes 'what is'
What is the distinction between economic theory and applied economics?
What is the distinction between economic theory and applied economics?
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What does behavioral economics focus on?
What does behavioral economics focus on?
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