The basic tools of supply and demand analysis are as central to macroeconomic analysis as they are to microeconomic analysis.

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Quizplus · Accepted Answer

The concept of supply and demand is a fundamental principle in economics, applicable to both macroeconomics and microeconomics. It helps in analyzing the behavior of market participants and understanding the factors that affect the levels of production, consumption, and prices at aggregate as well as individual levels. Therefore, the statement is true.

The Basic Tools of Supply and Demand Analysis Are as Central