Multiple Choice
The study of microeconomics and macroeconomics differ in that:
A) microeconomics is concerned with the domestic economy and macroeconomics is concerned only with the international economy.
B) microeconomics examines the individual markets of the economy while macroeconomics studies the whole economy.
C) microeconomics studies the actions of households and macroeconomics studies the actions of business firms.
D) microeconomics examines the whole economy while macroeconomics studies the individual units of the economy.
Correct Answer:

Verified
Correct Answer:
Verified
Q67: When building a model, an economist must:<br>A)
Q68: An entrepreneur is a(n):<br>A) individual who has
Q69: Complete the following analogy: A criminal is
Q70: The services of farmers are an example
Q71: Which of the following is the best
Q73: The statement, "John buys more of good
Q74: Labor resources:<br>A) include only physical activities.<br>B) include
Q75: Scarcity:<br>A) exists because resources are unlimited while
Q76: Human wants:<br>A) are unfilled only in the
Q77: What is the difference between positive and