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Questions and Answers
Which branch of economics analyzes the economy as a system where production, consumption, saving, and investment interact?
Which branch of economics analyzes the economy as a system where production, consumption, saving, and investment interact?
- Microeconomics
- Normative economics
- Positive economics
- Macroeconomics (correct)
What does microeconomics analyze?
What does microeconomics analyze?
- Currency inflation
- Public policies
- Economic growth
- Individual agents and markets (correct)
What is the focus of economics?
What is the focus of economics?
- Behaviour and interactions of economic agents (correct)
- Currency inflation
- Labour, capital, and land
- Economic growth
What is the distinction between positive economics and normative economics?
What is the distinction between positive economics and normative economics?
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What are some examples of individual agents in economics?
What are some examples of individual agents in economics?
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Which of the following is a common definition of a recession?
Which of the following is a common definition of a recession?
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What is the typical measure used to analyze business cycles?
What is the typical measure used to analyze business cycles?
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How are business cycle fluctuations usually characterized?
How are business cycle fluctuations usually characterized?
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What is the duration and intensity of expansion/recession episodes in business cycles?
What is the duration and intensity of expansion/recession episodes in business cycles?
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What are the implications of business cycles for the welfare of the population and private institutions?
What are the implications of business cycles for the welfare of the population and private institutions?
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