The Branch of Economics That Deals with the Analysis of the Whole

question 478

Multiple Choice

The branch of economics that deals with the analysis of the whole economy is called

• A) macroeconomics.
• B) marginal analysis.
• C) microeconomics.
• D) metroanalysis.

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Definitions:

Industrialized Countries

Nations with significant industrial development, high levels of income per capita, sophisticated infrastructure, and advanced technological capabilities.

Hours Worked

The total time period that an employee spends performing tasks or activities related to their job during a specified period.

Per Capita GDPs

Measures the average economic output per person, calculated by dividing the Gross Domestic Product (GDP) of a region by its population; essentially the same as Per Capita Real GDP but may not be adjusted for inflation.

NICs

Newly Industrialized Countries, nations that are transitioning from primarily agricultural to more industrial and manufacturing-based economies.