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What is the primary focus of microeconomics?
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?
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?
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?
What is the primary focus of macroeconomics?
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What does macroeconomics primarily deal with?
What does macroeconomics primarily deal with?
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