In Broad Terms the Difference Between Microeconomics and Macroeconomics Is

question 7

Multiple Choice

In broad terms the difference between microeconomics and macroeconomics is that

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

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Definitions:

Unstable Attribution

An explanation for behavior that shifts across time, context, or situations, suggesting inconsistency in how one attributes causes to events or actions.

Stable Attribution

A belief that causes behind a person's behavior are consistent and permanent over time, attributing actions to innate characteristics.

Global Attribution

The tendency to attribute the causes of behaviors or events to broad, general factors rather than specific situational factors.

Internal Attribution

The process of ascribing the cause of behavior to an internal characteristic of the actor, rather than to external factors.