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Questions and Answers
What does microeconomics primarily analyze?
What does microeconomics primarily analyze?
- Individual agents and markets (correct)
- Global economic trends
- Government policies and regulations
- Macroeconomic indicators
What is the focus of macroeconomics?
What is the focus of macroeconomics?
- Microeconomic policies and regulations
- Individual consumer behavior
- Market competition and pricing strategies
- The economy as a system and its interactions (correct)
What are the key elements analyzed in macroeconomics?
What are the key elements analyzed in macroeconomics?
- Production, consumption, saving, and investment (correct)
- Firm production costs and revenue
- Consumer preferences and utility maximization
- Market supply and demand
What is the distinction between positive economics and normative economics?
What is the distinction between positive economics and normative economics?
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What is the focus of behavioral economics?
What is the focus of behavioral economics?
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