Economics: Micro and Macroeconomics
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Questions and Answers

What is the focus of microeconomics?

  • Investigating public policies impacting society
  • Examining factors affecting currency inflation
  • Analyzing employment and economic growth
  • Studying individual agents and markets (correct)
  • What is the distinction between positive economics and normative economics?

  • Distinguishing between rational and behavioural economics
  • Focusing on economic theory vs applied economics
  • Describing 'what is' vs advocating 'what ought to be' (correct)
  • Separating mainstream economics and heterodox economics
  • Where can economic analysis be applied?

  • Exclusively in the field of finance
  • Only to social institutions and science
  • Primarily in the realm of cybersecurity and engineering
  • Throughout society including business, finance, and government (correct)
  • What does macroeconomics analyze as a system?

    <p>Production, consumption, saving, and investment interactions</p> Signup and view all the answers

    What are the broad distinctions within economics?

    <p>Between positive economics and normative economics</p> Signup and view all the answers

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