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Questions and Answers

What is a primary concern of economics?

Understanding the relationships between economic phenomena and societal needs (correct)

Predicting stock market trends and prices

Developing new economic theories and concepts

Analyzing the behavior of individual consumers

What is the primary focus of macroeconomics?

The production of specific goods and services

The distribution of goods and services

The overall performance of a country's economy (correct)

Individual consumer behavior

What skill do economists develop to understand and improve the workings of various facets of life?

Quantitative analysis

Historical interpretation

Philosophical inquiry

All of the above (correct)

What is the primary goal of the undergraduate program in economics?

To produce economists who are socio-politically engaged, quantitatively adept, historically informed, and philosophically grounded Signup and view all the answers

What is a key aspect of development economics?

Analyzing the economic relationships between countries Signup and view all the answers

What is the primary focus of behavioral economics?

Analyzing the psychological factors that influence consumer behavior Signup and view all the answers

What is the primary tool used in econometrics?

Statistical analysis Signup and view all the answers

What is the primary goal of studying economics?

To understand the major problems facing the world today Signup and view all the answers

What is a key aspect of the new UG Curriculum in economics?

The incorporation of recent economic theories and concepts Signup and view all the answers

What is the relationship between economics and the media?

Economic phenomena are often reported in the media Signup and view all the answers