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Microeconomics focuses on the behavior and interactions of economic agents and how economies work
True
Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact
True
Positive economics describes 'what ought to be'
False
Normative economics advocates 'what is'
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Rational economics and behavioral economics are distinct fields within economics
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Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact
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Microeconomics analyzes individual agents and markets, their interactions, and the outcomes of interactions
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Positive economics describes 'what is'
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Normative economics advocates 'what ought to be'
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Economics is a natural science that studies the production, distribution, and consumption of goods and services
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Macroeconomics analyzes the economy at the individual agent and market level
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Normative economics advocates 'what ought to be'
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Rational economics and behavioral economics are distinct fields within economics
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Microeconomics analyzes the behavior and interactions of economic agents and how economies work
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Positive economics describes 'what is'
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