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Questions and Answers
What does microeconomics analyze?
What does microeconomics analyze?
- Individual agents and markets (correct)
- Global economic systems
- Government policies
- Currency exchange rates
What does macroeconomics analyze as a system?
What does macroeconomics analyze as a system?
- Production, consumption, saving, and investment (correct)
- Global trade patterns
- Market competition
- Individual consumer behavior
What is the distinction between positive economics and normative economics?
What is the distinction between positive economics and normative economics?
- Analyzing current economic trends vs predicting future economic trends
- Describing 'what is' vs advocating 'what ought to be' (correct)
- Comparing economic theory vs applied economics
- Contrasting rational vs behavioural economics
What are the key factors analyzed in macroeconomics?
What are the key factors analyzed in macroeconomics?
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What do the broad distinctions within economics include?
What do the broad distinctions within economics include?
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