Economics Is Divided into Two Subfields: Microeconomics and Macroeconomics

question 168

Essay

Economics is divided into two subfields: microeconomics and macroeconomics.Why is this separation necessary?

Understand how and when to use the STAR technique in responses.

Grasp the significance of follow-up communication after an interview.

Realize the importance of appearance, nonverbal cues, and eye contact in online interviews.

Understand the role and preparation of references in job applications.

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Definitions:

Toxic Assets

Financial assets whose value has dropped significantly and are difficult to sell, often because the risk of default is higher than originally anticipated.

Subprime Mortgage

A type of home loan provided to individuals with poor credit histories, which carries a higher risk of default and higher interest rates.

2008 Financial Crisis

A global financial downturn triggered by the collapse of the housing bubble in the United States, leading to widespread economic contraction, failures of major banks and financial institutions, and significant government interventions.

Housing Bubble

A situation in real estate markets characterized by high demand, low supply, and inflated prices that eventually lead to a sharp decline.