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Questions and Answers
What does microeconomics primarily analyze?
What does microeconomics primarily analyze?
- International trade agreements
- Macroeconomic indicators
- Individual agents and markets (correct)
- Government policies and regulations
What does macroeconomics primarily analyze?
What does macroeconomics primarily analyze?
- The economy as a system and its interactions (correct)
- Global economic crises and their impact
- Microeconomic trends and patterns
- Consumer behavior and preferences
What is the distinction between positive economics and normative economics?
What is the distinction between positive economics and normative economics?
- Theoretical vs applied economic analysis
- Quantitative vs qualitative economic research
- Describing 'what is' vs advocating 'what ought to be' (correct)
- Short-term vs long-term economic forecasting
What is the focus of rational economics?
What is the focus of rational economics?
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What are the primary economic resources analyzed in macroeconomics?
What are the primary economic resources analyzed in macroeconomics?
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