Economics: Micro and Macro Analysis

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Questions and Answers

What does microeconomics analyze?

Positive and normative economics
The economy as a system where production, consumption, saving, and investment interact
Individual agents and markets, their interactions, and the outcomes of interactions (correct)
Factors affecting employment of resources and economic growth

Where can economic analysis be applied throughout society?

Crime, education, the family, feminism, law, philosophy, politics, religion
Business, finance, cybersecurity, health care, engineering, and government (correct)
Production, consumption, saving, and investment
Social institutions, war, science, and the environment

What are the broad distinctions within economics?

Between mainstream economics and heterodox economics
Between positive economics and normative economics (correct)
Between rational and behavioral economics
Between economic theory and applied economics

What does macroeconomics analyze?

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

What are the elements analyzed in macroeconomics?

<p>Employment of the resources of labour, capital, and land; currency inflation; economic growth; public policies (D)</p> Signup and view all the answers

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