Microeconomics differs from macroeconomics in that:
a. microeconomics studies individual decision making while macroeconomics examines aggregate decision making.
b. microeconomics studies aggregate decision making while macroeconomics examines individual decision making.
c. microeconomics utilizes positive economic analysis while macroeconomics utilizes normative economic analysis.
d. microeconomics is concerned with consumer behavior while macroeconomics is concerned with firm behavior.
a
You might also like to view...
Bank's make their profits primarily by issuing
A) equity. B) negotiable CDs. C) loans. D) NOW accounts.
Under what condition are profits maximized?
A) at the rate of output at which marginal revenue equals marginal cost B) at the output rate where marginal cost is greater than marginal revenue C) at the point at which the difference between total revenues and total costs is negative D) at the point at which the difference between price and quantity demanded is greatest
When externalities exist, economic efficiency is achieved when marginal private benefit equals marginal private cost
a. True b. False Indicate whether the statement is true or false
Voluntary programs are dependable ways to protect the environment
a. True b. False Indicate whether the statement is true or false