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Questions and Answers
What does microeconomics analyze?
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?
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?
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?
What does macroeconomics analyze?
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What are the elements analyzed in macroeconomics?
What are the elements analyzed in macroeconomics?
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