Asked by Araceli ArredondoLona on Jun 09, 2024

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Which of the following statements is true?

A) Microeconomics focuses on specific decision-making units of the economy;macroeconomics examines the economy as a whole.
B) Macroeconomics focuses on specific decision-making units of the economy;microeconomics examines the economy as a whole.
C) Every topic in economics is either a microeconomic or a macroeconomic issue;a topic cannot be both.
D) Topics in microeconomics have public policy implications;topics in macroeconomics do not.

Microeconomics

The branch of economics that focuses on the actions of individuals and industries, like the dynamics between buyers and sellers, borrowers and lenders.

Macroeconomics

A branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole, including unemployment, inflation, and economic growth.

Decision-Making Units

Groups or individuals within an organization that have the authority and responsibility to make choices that affect the organization's operations.

  • Distinguish between the study fields of microeconomics and macroeconomics.
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JC
Jalyn CredleJun 09, 2024
Final Answer :
A
Explanation :
Microeconomics focuses on specific decision-making units such as individuals, households, and firms, while macroeconomics examines the economy as a whole, including issues such as inflation, unemployment, and economic growth. Therefore, statement A is true. Statements B, C, and D are false.