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Questions and Answers
What does microeconomics focus on?
What does microeconomics focus on?
- Government policies and regulations
- International trade agreements
- Individual agents and markets (correct)
- Global economic trends
What does macroeconomics analyze?
What does macroeconomics analyze?
- Micro-level consumer behavior
- Local market fluctuations
- The economy as a system and its interactions (correct)
- Corporate financial statements
What is the distinction between positive economics and normative economics?
What is the distinction between positive economics and normative economics?
- Analyzing current economic data vs predicting future trends
- Describing 'what is' vs advocating 'what ought to be' (correct)
- Focusing on microeconomics vs macroeconomics
- Comparing market behaviors vs government interventions
What are the key elements analyzed in macroeconomics?
What are the key elements analyzed in macroeconomics?
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What are the economic agents analyzed in microeconomics?
What are the economic agents analyzed in microeconomics?
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What does microeconomics analyze?
What does microeconomics analyze?
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What is the focus of macroeconomics?
What is the focus of macroeconomics?
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What does normative economics advocate?
What does normative economics advocate?
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What are the broad distinctions within economics?
What are the broad distinctions within economics?
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What does behavioural economics focus on?
What does behavioural economics focus on?
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