The distinction between microeconomics and macroeconomics is

A. determined by economists in a clear and concise manner.
B. narrowly drawn, and microeconomic analysis often relies on macroeconomic tools.
C. often blurred because aggregates are made up of individuals and firms.
D. clearly drawn, and there is no overlap between them.

Answer: C

Economics

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Rent control is an example of

A) a price floor. B) a price ceiling. C) the rationing function of prices not working. D) the government increasing the demand for certain products.

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A fair price is set where P = ATC

Indicate whether the statement is true or false

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