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Questions and Answers
Which branch of economics deals with the behavior of individual economic units such as consumers, firms, workers, and investors?
Which branch of economics deals with the behavior of individual economic units such as consumers, firms, workers, and investors?
- National economics
- Microeconomics (correct)
- Macroeconomics
- Aggregate economics
Which branch of economics deals with aggregate economic variables such as the level and growth rate of national output, interest rates, unemployment, and inflation?
Which branch of economics deals with aggregate economic variables such as the level and growth rate of national output, interest rates, unemployment, and inflation?
- Macroeconomics (correct)
- Microeconomics
- National economics
- Aggregate economics
What is the main focus of microeconomics?
What is the main focus of microeconomics?
- The study of trade-offs
- The behavior of the overall economy
- The study of aggregate economic variables
- The behavior of individual economic units (correct)
What are consumers faced with when making spending decisions?
What are consumers faced with when making spending decisions?
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Why do workers also face constraints and make trade-offs?
Why do workers also face constraints and make trade-offs?
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