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Which of the following is Microeconomics concerned with? А. The size of national output В. The level of employment С. c. Changes in general level of prices D. None of the above

Which of the following is Microeconomics concerned with? А. The size of national output В. The level of employment С. c. Changes in general level of prices D. None of the above

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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### Microeconomics Quiz Question **Question:** Which of the following is Microeconomics concerned with? **Options:** - **A.** The size of national output - **B.** The level of employment - **C.** Changes in general level of prices - **D.** None of the above **Explanation:** Microeconomics focuses on individual and business-level economics, such as consumer behavior, individual markets, and how different sectors respond to changes in resource allocation, while macroeconomic topics are typically broader, like national output, employment levels, and price changes at a national scale. Understanding this distinction helps clarify why none of the above options directly relate to microeconomics within the context of the broader economy.
Transcribed Image Text:### Microeconomics Quiz Question **Question:** Which of the following is Microeconomics concerned with? **Options:** - **A.** The size of national output - **B.** The level of employment - **C.** Changes in general level of prices - **D.** None of the above **Explanation:** Microeconomics focuses on individual and business-level economics, such as consumer behavior, individual markets, and how different sectors respond to changes in resource allocation, while macroeconomic topics are typically broader, like national output, employment levels, and price changes at a national scale. Understanding this distinction helps clarify why none of the above options directly relate to microeconomics within the context of the broader economy.
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