Exam 1: The Principles and Practice of Economics

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________ economics prescribes what an individual or society ought to do.

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Which of the following statements is true?

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A recent news report stated that the unemployment rate in the country of Lithasia had increased from 10.2 percent to 18.2 percent between 2003 and 2013 and that the government has adopted strict fiscal measures to expand employment.Would this report be considered microeconomic or macroeconomic analysis?

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