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Questions and Answers
What does microeconomics primarily analyze?
What does microeconomics primarily analyze?
- Currency inflation
- Macroeconomic policies
- Economic growth
- Individual agents and markets (correct)
What does macroeconomics primarily analyze?
What does macroeconomics primarily analyze?
- Individual agents and markets
- Positive economics
- The economy as a system and its interactions (correct)
- Factors affecting employment
What is the distinction between positive economics and normative economics?
What is the distinction between positive economics and normative economics?
- Describing 'what is' vs predicting 'what will be'
- Advocating 'what will be' vs describing 'what is'
- Describing 'what ought to be' vs advocating 'what is'
- Describing 'what is' vs advocating 'what ought to be' (correct)
What are the main elements analyzed in macroeconomics?
What are the main elements analyzed in macroeconomics?
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What does economics focus on?
What does economics focus on?
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