Podcast
Play an AI-generated podcast conversation about this lesson
Download our mobile app to listen on the go
Get App
Questions and Answers
What does microeconomics analyze?
What does microeconomics analyze?
- International trade
- Individual agents and markets (correct)
- Global economic systems
- Government policies
What does macroeconomics analyze?
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?
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?
What are the key elements analyzed in macroeconomics?
Signup and view all the answers
What are the broad distinctions within economics?
What are the broad distinctions within economics?
Signup and view all the answers
Flashcards are hidden until you start studying
