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Questions and Answers
What is the main goal of microeconomics?
What is the main goal of microeconomics?
- To analyze market failure
- To analyze the market mechanisms that establish relative prices among goods and services (correct)
- To analyze national policies relating to growth, inflation, and unemployment
- To study the behavior of individuals and firms in making decisions
Which branch of economics focuses on the study of individual markets, sectors, or industries?
Which branch of economics focuses on the study of individual markets, sectors, or industries?
- Behavioral economics
- Econometrics
- Macroeconomics
- Microeconomics (correct)
What is the main focus of macroeconomics?
What is the main focus of macroeconomics?
- To analyze national policies relating to growth, inflation, and unemployment (correct)
- To analyze market failure
- To analyze market mechanisms
- To study individual markets, sectors, or industries
What does microeconomics analyze when markets fail to produce efficient results?
What does microeconomics analyze when markets fail to produce efficient results?
Which branch of economics focuses on the behavior of individuals and firms in making decisions regarding the allocation of scarce resources?
Which branch of economics focuses on the behavior of individuals and firms in making decisions regarding the allocation of scarce resources?
What does macroeconomics deal with?
What does macroeconomics deal with?
What is the main focus of microeconomics?
What is the main focus of microeconomics?
What does macroeconomics deal with?
What does macroeconomics deal with?
What does microeconomics analyze when markets fail to produce efficient results?
What does microeconomics analyze when markets fail to produce efficient results?
Which branch of economics focuses on the sum total of economic activity?
Which branch of economics focuses on the sum total of economic activity?
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