Microeconomics Quiz
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Questions and Answers

What is the primary focus of microeconomics?

  • Dealing with issues of inflation and unemployment
  • Studying individual markets and decision-making of individuals and firms (correct)
  • Analyzing national policies related to economic growth
  • Focusing on the sum total of economic activity

    • What does microeconomics analyze in relation to market mechanisms?

  • Sum total of economic activity
  • Issues of growth, inflation, and unemployment
  • Dealing with national policies for economic issues
  • Establishing relative prices among goods and services (correct)

    • What does microeconomics show about free markets?

  • Issues of growth, inflation, and unemployment
  • Conditions under which free markets lead to desirable allocations (correct)
  • Behavior of individuals and firms
  • National policies relating to economic issues

    • What is the primary focus of macroeconomics?

    <p>Sum total of economic activity and national policies</p> Signup and view all the answers

    What does macroeconomics primarily deal with?

    <p>Growth, inflation, and unemployment</p> Signup and view all the answers

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