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Questions and Answers
What does microeconomics analyze in the economy?
What does microeconomics analyze in the economy?
- Individual agents and markets (correct)
- Government policies and regulations
- Global economic trends
- International trade agreements
What does macroeconomics analyze in the economy?
What does macroeconomics analyze in the economy?
- Social welfare programs
- Technological advancements
- Production, consumption, saving, and investment (correct)
- Environmental impacts on the economy
What is the distinction between positive economics and normative economics?
What is the distinction between positive economics and normative economics?
- Describing theoretical concepts vs practical applications
- Describing 'what ought to be' vs advocating 'what is'
- Describing 'what is' vs advocating 'what ought to be' (correct)
- Advocating for government intervention vs free market principles
What are the key elements that macroeconomics analyzes?
What are the key elements that macroeconomics analyzes?
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What are the main focus areas of economics as a social science?
What are the main focus areas of economics as a social science?
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What is the main focus of economics as a social science?
What is the main focus of economics as a social science?
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What does microeconomics analyze in the economy?
What does microeconomics analyze in the economy?
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What are the key elements that macroeconomics analyzes?
What are the key elements that macroeconomics analyzes?
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What is the distinction between positive economics and normative economics?
What is the distinction between positive economics and normative economics?
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What are the main factors that macroeconomics analyzes in the economy?
What are the main factors that macroeconomics analyzes in the economy?
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