The basic difference between macroeconomics and microeconomics is that:
A)microeconomics looks at aggregate markets while macroeconomics is concerned with individual markets.
B)macroeconomics is concerned with policy decisions while microeconomics applies only to theory.
C)microeconomics is concerned with individual markets while macroeconomics is concerned with aggregate markets.
D)macroeconomics is concerned with positive economics while microeconomics is concerned with normative economics.

Question

The basic difference between macroeconomics and microeconomics is that:
A)​microeconomics looks at aggregate markets while macroeconomics is concerned with individual markets.
B)​macroeconomics is concerned with policy decisions while microeconomics applies only to theory.
C)​microeconomics is concerned with individual markets while macroeconomics is concerned with aggregate markets.
D)​macroeconomics is concerned with positive economics while microeconomics is concerned with normative economics.

Quizplus · Accepted Answer

Microeconomics is concerned with the behavior of individual agents and markets such as households, firms and industries, while macroeconomics studies the aggregates such as gross domestic product, inflation and employment at the national or global level. Hence, the basic difference lies in the level of analysis - individual markets versus aggregate markets.

The Basic Difference Between Macroeconomics and Microeconomics Is That