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Questions and Answers
What does microeconomics analyze?
What does microeconomics analyze?
- Global economic systems
- Currency inflation
- Government policies
- Individual agents and markets (correct)
What is the focus of macroeconomics?
What is the focus of macroeconomics?
- Microeconomic behavior
- Global trade policies
- Market competition
- Economy as a system and its interactions (correct)
What is the distinction between positive economics and normative economics?
What is the distinction between positive economics and normative economics?
- Advocating for government intervention vs advocating for free markets
- Describing current economic policies vs historical economic policies
- Describing 'what is' vs advocating 'what ought to be' (correct)
- Describing 'what ought to be' vs advocating 'what is'
Where can economic analysis be applied?
Where can economic analysis be applied?
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What are the broad distinctions within economics?
What are the broad distinctions within economics?
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