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</p> Signup and view all the answers

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