Microeconomics Only Looks at the Behavior of One Consumer or One

question 126

True/False

Microeconomics only looks at the behavior of one consumer or one firm in a market, while macroeconomics looks at the behavior of an entire industry or group of consumers.

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Definitions:

External Validity

How much the conclusions drawn from a research can be seen as applicable across various scenarios and to other populations.

Longitudinal Study

A research method that involves repeated observations of the same variables (such as people) over short or long periods of time, often years or decades.

Demographically Similar

Refers to groups of people who share similar characteristics such as age, gender, income level, and education, often used in research to create comparable cohorts.

Single Participant

Research design involving the intensive study of a single subject to explore outcomes, behaviors, or responses to interventions over time.