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Questions and Answers
True or false: Microeconomics focuses on the behavior and interactions of economic agents at a macro level.
True or false: Microeconomics focuses on the behavior and interactions of economic agents at a macro level.
False (B)
True or false: Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact.
True or false: Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact.
True (A)
True or false: Positive economics describes 'what ought to be' in the economy.
True or false: Positive economics describes 'what ought to be' in the economy.
False (B)
True or false: Normative economics advocates 'what is' in the economy.
True or false: Normative economics advocates 'what is' in the economy.
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True or false: Rational economics is the only approach used in economic analysis.
True or false: Rational economics is the only approach used in economic analysis.
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