The Basic Difference Between Macroeconomics and Microeconomics Is

question 26

Multiple Choice

The basic difference between macroeconomics and microeconomics is:

• A) microeconomics concentrates on individual markets while macroeconomics focuses primarily on international trade.
• B) microeconomics concentrates on the behavior of individual consumers while macroeconomics focuses on the behavior of firms.
• C) microeconomics concentrates on the behavior of individual consumers and firms while macroeconomics focuses on the performance of the entire economy.
• D) microeconomics explores the causes of inflation while macroeconomics focuses on the causes of unemployment.

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Definitions:

Parietal Cortex

A region of the brain located in the parietal lobe, involved in processing sensory information and spatial orientation.

Desirability

The quality of being wanted or sought after due to appealing attributes or qualities.

Matching Law

A principle that states the proportion of responses directed towards an option matches the proportion of reinforcements obtained from that option.

Schedules of Reinforcement

The rules or plans for determining when and how often reinforcements will be given to maintain a desired behavior.