Macroeconomics Differs from Microeconomics in That

question 330

Multiple Choice

Macroeconomics differs from microeconomics in that

• A) macroeconomics studies the decisions of individuals.
• B) microeconomics looks at the economy as a whole.
• C) macroeconomics studies the behavior of government while microeconomics looks at private corporations.
• D) macroeconomics focuses on the national economy and the global economy.

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Definitions:

Normally Distributed

Describes a probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Probability

A measure of the likelihood of occurrence of a particular event or outcome, often expressed as a number between 0 and 1.

NORM.DIST

A function in various statistical software that returns the normal distribution for a specified mean and standard deviation.

Standard Error

Standard error is a statistical measure that estimates the accuracy with which a sample distribution represents a population by using standard deviation.