Decisions made in households, firms, and government are the focus of:
A) positive economic
B) microeconomics
C) normative economics
D) macroeconomics
Correct Answer:
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Q5: Macroeconomicsis primarily concerned with aggregates. Which of
Q6: Scientific attempts to describe economic relationships are
Q7: The method consistsin deriving conclusionsfrom general truths,
Q8: is a term referring to an intellectual
Q9: Inductive method which also called empirical method
Q11: Knowledge used to combine resources productively is
Q12: Economic efficiency for the entire economy requires
Q13: Theories are:
A)much more complicated than common sense
B)scientific
Q14: Division of Labour is limited by the
Q15: Milton Friedman restated the :
A)labour theory
B)profit theory
C)quantity
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