Podcast
Questions and Answers
What does microeconomics analyze?
What does microeconomics analyze?
- Overall economy as a system
- Currency inflation and economic growth
- Factors affecting employment
- Individual agents and markets (correct)
What is the focus of macroeconomics?
What is the focus of macroeconomics?
- Analysis of individual agents and markets
- Economy as a system with interactions of production, consumption, saving, and investment (correct)
- Factors affecting employment and resources
- Currency inflation and public policies
What does normative economics advocate?
What does normative economics advocate?
- "What is"
- Rational economic theory
- "What ought to be" (correct)
- Behavioural economics
What does behavioural economics focus on?
What does behavioural economics focus on?
What are the broad distinctions within economics?
What are the broad distinctions within economics?