The Basic Difference Between Macroeconomics and Microeconomics Is That

question 104

Multiple Choice

The basic difference between macroeconomics and microeconomics is that

• A) microeconomics is concerned with aggregate markets and the entire economy, while macroeconomics is concerned with specific individual markets.
• B) macroeconomics is concerned with policy decisions, while microeconomics applies only to theory.
• C) microeconomics is concerned with individual markets and the behavior of people and firms, while macroeconomics is concerned with aggregate markets and the entire economy.
• D) macroeconomics is concerned with positive economics, while microeconomics is concerned with normative economics.

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Definitions:

White Citizens' Councils

Segregationist organizations in the United States, particularly in the South during the mid-20th century, that opposed racial integration and promoted white supremacy.

School Integration

The process of ending racial segregation in schools, legally mandated by the Supreme Court's Brown v. Board of Education decision in 1954.

Southern States

Refers to the states that are located in the southeastern and south-central regions of the United States, historically known for their distinct cultural, social, and economic characteristics.

Jim Crow

A set of laws and customs in the southern United States enforcing racial segregation and discrimination against African Americans from the late 19th century into the 1960s.