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Microeconomics Fundamentals Quiz
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Microeconomics Fundamentals Quiz

Created by
@PraiseworthyStrength

Questions and Answers

What does microeconomics analyze?

  • Individual agents and markets (correct)
  • Global economic systems
  • Government policies
  • Currency exchange rates

    • 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?

  • 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?

    <p>Employment, inflation, economic growth</p> Signup and view all the answers

    What do the broad distinctions within economics include?

    <p>Between economic theory and applied economics</p> Signup and view all the answers

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