The basic difference between macroeconomics and microeconomics is that:
a. microeconomics looks at the forest (aggregate markets) while macroeconomics looks at the trees (individual markets).
b. macroeconomics is concerned with groups of individuals while microeconomics is concerned with single countries.
c. microeconomics is concerned with the trees (individual markets) while macroeconomics is concerned with the forest (aggregate markets).
d. macroeconomics is concerned with generalization while microeconomics is concerned with specialization.
c. microeconomics is concerned with the trees (individual markets) while macroeconomics is concerned with the forest (aggregate markets).
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More specialization in a market economy generally leads to the more efficient use of its resources.
Answer the following statement true (T) or false (F)
The unemployment rate that includes discouraged workers and people working? part-time who would prefer? full-time jobs
What will be an ideal response?