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Economics: Micro and Macroeconomics

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Questions and Answers

What does microeconomics primarily analyze?

Macroeconomic indicators

Government policies and regulations

International trade agreements

Individual agents and markets (correct)

In economics, what does normative economics advocate?

"What should have been"

"What is"

"What could be"

"What ought to be" (correct)

Where can economic analysis be applied?

Sports, entertainment, and fashion

Music, art, and literature

Agriculture, forestry, and fishing

Business, finance, and government (correct)

What does macroeconomics analyze in the economy?

Production, consumption, saving, and investment interactions Signup and view all the answers

What are the broad distinctions within economics?

Positive economics and normative economics Signup and view all the answers

According to Thucydides, what virtues did civic education aim to instill in Spartans?

Toughness, obedience, cunning, simplicity, and preparedness Signup and view all the answers

What did Archidamus II emphasize as the basis for Spartan wisdom?

Education with too little learning to despise the laws and with severe self-control to obey them Signup and view all the answers

What approach did Spartans take in preparing against an enemy?

Basing preparations on the assumption that the enemy's plans are good Signup and view all the answers

According to Archidamus II, where should Spartan hopes be rested?

On the soundness of their provisions rather than a belief in enemy blunders Signup and view all the answers

What did Archidamus II teach Spartans about their enemies' schemes?

To consider that the schemes of their enemies are not dissimilar to their own Signup and view all the answers