Microeconomics focuses on ____; macroeconomics concentrates on ____.
A. the basic tools of analysis; the use of abstractions and models
B. the economies of various countries; the decisions of individual companies
C. the decisions of individual units; the behavior of entire economies
D. the economic aggregates; the decisions of individual units
Answer: C
Economics
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In an economy that is at full employment, an increase in money supply will result in inflation, unless
A) velocity increases. B) velocity decreases. C) real GDP falls. D) tax reduction is proportional to increases in the money supply.
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Marginal revenue equals the change in total revenue that is earned by selling one more unit of output
a. True b. False Indicate whether the statement is true or false
Economics