Microeconomics Quiz

• Currency inflation, economic growth, and public policies
• The economy as a system where production, consumption, saving, and investment interact
• Individual agents and markets, their interactions, and the outcomes of interactions (correct)
• Factors affecting employment of the resources of labour, capital, and land

• Individual agents and markets, their interactions, and the outcomes of interactions
• Currency inflation, economic growth, and public policies
• The economy as a system where production, consumption, saving, and investment interact (correct)
• Factors affecting employment of the resources of labour, capital, and land

• Positive economics describes 'what is', while normative economics advocates 'what ought to be' (correct)
• Positive economics focuses on rational economics, while normative economics focuses on behavioural economics
• Positive economics focuses on economic theory, while normative economics focuses on applied economics
• Positive economics advocates 'what ought to be', while normative economics describes 'what is'

<p>Between positive economics and normative economics; between economic theory and applied economics; between rational and behavioural economics (C)</p> Signup and view all the answers

<p>The behaviour and interactions of economic agents and how economies work (D)</p> Signup and view all the answers