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