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What does microeconomics analyze?
What does microeconomics analyze?
- The broad distinctions between positive economics and normative economics
- The economy as a system where production, consumption, saving, and investment interact
- Factors affecting employment of the resources of labour, capital, and land
- Individual agents and markets, their interactions, and the outcomes of interactions (correct)
What does macroeconomics analyze?
What does macroeconomics analyze?
- The economy as a system where production, consumption, saving, and investment interact, and factors affecting it (correct)
- The broad distinctions between positive economics and normative economics
- Individual agents and markets, their interactions, and the outcomes of interactions
- Factors affecting employment of the resources of labour, capital, and land
What are the broad distinctions within economics?
What are the broad distinctions within economics?
- Economic theory and applied economics
- Rational economics and behavioural economics
- Individual agents and markets, their interactions, and the outcomes of interactions
- Positive economics and normative economics (correct)
What does positive economics describe?
What does positive economics describe?
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What does normative economics advocate?
What does normative economics advocate?
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What does microeconomics primarily analyze?
What does microeconomics primarily analyze?
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What are the main subjects of macroeconomics?
What are the main subjects of macroeconomics?
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Which distinction within economics relates to 'what ought to be'?
Which distinction within economics relates to 'what ought to be'?
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What is the focus of behavioural economics?
What is the focus of behavioural economics?
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Which area of economics examines the outcomes of interactions between individual agents and markets?
Which area of economics examines the outcomes of interactions between individual agents and markets?
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