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Questions and Answers
What does microeconomics focus on?
What does microeconomics focus on?
- International trade and finance
- Government policies and regulations
- Individual agents and markets (correct)
- Macroeconomic factors only
What is the primary concern of macroeconomics?
What is the primary concern of macroeconomics?
- Microeconomic decision-making
- Environmental sustainability
- Social welfare and equity
- The 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?
- Comparing capitalist vs socialist economic systems
- Studying market demand vs supply dynamics
- Describing 'what is' vs advocating 'what ought to be' (correct)
- Analyzing past economic data vs forecasting future trends
What are the economic agents analyzed in microeconomics?
What are the economic agents analyzed in microeconomics?
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What are the factors that macroeconomics analyzes?
What are the factors that macroeconomics analyzes?
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What does microeconomics primarily analyze?
What does microeconomics primarily analyze?
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What is the focus of macroeconomics?
What is the focus of macroeconomics?
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Which distinction within economics describes "what ought to be"?
Which distinction within economics describes "what ought to be"?
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What does behavioural economics focus on?
What does behavioural economics focus on?
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What does rational economics emphasize?
What does rational economics emphasize?
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