The basic difference between macroeconomics and microeconomics is that? a. macroeconomics is concerned with policy decisions, while microeconomics applies only to theory. b. microeconomics is concerned with the forest (aggregate markets), while macroeconomics is concerned with the trees (subcomponents). c. macroeconomics is concerned with the forest (aggregate markets), while microeconomics is concerned with the individual trees (subcomponents). d. opportunity cost is applicable to macroeconomics, and the fallacy of composition relates to microeconomics.
The basic difference between macroeconomics and microeconomics is that? a. macroeconomics is concerned with policy decisions, while microeconomics applies only to theory. b. microeconomics is concerned with the forest (aggregate markets), while macroeconomics is concerned with the trees (subcomponents). c. macroeconomics is concerned with the forest (aggregate markets), while microeconomics is concerned with the individual trees (subcomponents). d. opportunity cost is applicable to macroeconomics, and the fallacy of composition relates to microeconomics.
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter2: Thinking Like An Economist
Section2.1: The Economist As Scientist
Problem 1QQ
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The basic difference between
a.
macroeconomics is concerned with policy decisions, while microeconomics applies only to theory.
b.
microeconomics is concerned with the forest (aggregate markets), while macroeconomics is concerned with the trees (subcomponents).
c.
macroeconomics is concerned with the forest (aggregate markets), while microeconomics is concerned with the individual trees (subcomponents).
d.
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