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Which of the following is an example of a topic studied by microeconomists

Which of the following is an example of a topic studied by microeconomists?

A) Energy consumption by a firm

B) Nationwide inflation rate

C) Economic growth as a means to alleviate poverty

D) Aggregate demand and aggregate supply in an economy

22) ________ is the study of an economy as a whole.

A) Microeconomics

B) Game theory

C) Behavioral economics

D) Macroeconomics

23) Which of the following is an example of a topic studied by macroeconomists?

A) Aggregate demand in an economy

B) Price determination by a firm

C) Utility maximization by a consumer

D) Decision making by a producer

24) Which of the following is an example of a topic studied by macroeconomists?

A) Savings of a single household

B) Productivity of an agricultural farm

C) Total output of an economy

D) Price determination by a monopolist

25) Which of the following statements is true?

A) Microeconomics is the study of an economy as a whole.

B) Macroeconomics studies how individuals make choices.

C) The study of the inflation rate is covered under microeconomics.

D) The study of the unemployment rate is covered under macroeconomics

26) Which of the following statements correctly highlights the difference between microeconomics and macroeconomics?

A) Microeconomics is descriptive, whereas macroeconomics is advisory.

B) Microeconomics primarily deals with positive analysis, whereas macroeconomics primarily deals with normative analysis.

C) Microeconomics deals with a small part of the economy, whereas macroeconomics deals with aggregate economic performance.

D) Microeconomics describes what economic agents actually do, whereas macroeconomics describes what economic agents ought to do.

27) The understanding of why an economy is contracting during slowdowns and how to recommend appropriate policies is studied under:

A) macroeconomics.

B) microeconomics.

C) agricultural economics.

D) international economics.

28) Understanding the impact of carbon taxes on the energy usage of individual households and firms will be studied under:

A) microeconomics.

B) macroeconomics.

C) fiscal economics.

D) financial economics.

29) The relationship between unemployment rate and inflation will be studied under:

A) microeconomics.

B) macroeconomics.

C) behavioral economics.

D) international economics.

30) The relationship between a firm's advertising expenditure and its profit will be studied under:

A) microeconomics.

B) macroeconomics.

C) public economics.

D) international economics.

Mar 14 2020 View more View Less

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