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Questions and Answers
What does microeconomics analyze?
What does microeconomics analyze?
- Government policies and regulations
- Social institutions and norms
- International trade and finance
- Individual agents and markets (correct)
What is the focus of macroeconomics?
What is the focus of macroeconomics?
- Economy as a system and its interactions (correct)
- Global economic trends and forecasts
- Local market fluctuations
- Micro-level consumer behavior
What distinguishes positive economics from normative economics?
What distinguishes positive economics from normative economics?
- Describing 'what is' vs advocating 'what ought to be' (correct)
- Analyzing current economic trends vs historical economic data
- Applying economic theory vs applied economics
- Focusing on individual agents vs economy as a system
Where can economic analysis be applied?
Where can economic analysis be applied?
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What is the main focus of economics?
What is the main focus of economics?
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What is the focus of behavioural economics?
What is the focus of behavioural economics?
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In what way does applied economics differ from economic theory?
In what way does applied economics differ from economic theory?
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What does normative economics advocate?
What does normative economics advocate?
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What distinguishes heterodox economics from mainstream economics?
What distinguishes heterodox economics from mainstream economics?
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Where can economic analysis be applied?
Where can economic analysis be applied?
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