Microeconomics Quiz
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Questions and Answers

What does microeconomics analyze?

  • International trade
  • Individual agents and markets (correct)
  • Global economic systems
  • Government policies
  • What does macroeconomics analyze?

  • Micro-level consumer behavior
  • Labor market dynamics
  • Environmental impacts on economy
  • Economy as a system and factors affecting it (correct)
  • What is the distinction between positive economics and normative economics?

  • Advocating for government intervention vs advocating for free markets
  • Describing 'what ought to be' vs advocating 'what is'
  • Describing current economic policies vs historical economic policies
  • Describing 'what is' vs advocating 'what ought to be' (correct)
  • What are the key elements analyzed in macroeconomics?

    <p>Production, consumption, saving, and investment</p> Signup and view all the answers

    What are the broad distinctions within economics?

    <p>Between economic theory and applied economics</p> Signup and view all the answers

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