In broad terms the difference between microeconomics and macroeconomics is that
A) they use different sets of tools and ideas.
B) microeconomics studies decisions of individual people and firms and macroeconomics studies the entire national economy.
C) macroeconomics studies the effects of government regulation and taxes on the price of individual goods and services whereas microeconomics does not.
D) microeconomics studies the effects of government taxes on the national unemployment rate.

Question

Quizplus · Accepted Answer

Microeconomics focuses on the actions of individuals and industries, like the dynamics between buyers and sellers, borrowers and lenders. Macroeconomics looks at the economy as a whole, analyzing issues such as inflation, unemployment, and economic growth.

In Broad Terms the Difference Between Microeconomics and Macroeconomics Is