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Questions and Answers
What does microeconomics analyze?
What does microeconomics analyze?
- The economy as a system
- Positive and normative economics
- Individual agents and markets (correct)
- Factors affecting production
What does macroeconomics analyze?
What does macroeconomics analyze?
- The economy as a system (correct)
- Individual agents and markets
- Rational and behavioral economics
- Factors affecting production
What is the distinction between positive economics and normative economics?
What is the distinction between positive economics and normative economics?
- Rational economics vs behavioral economics
- Describing 'what is' vs advocating 'what ought to be' (correct)
- Mainstream economics vs heterodox economics
- Economic theory vs applied economics
Where can economic analysis be applied?
Where can economic analysis be applied?
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What are the broad distinctions within economics?
What are the broad distinctions within economics?
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