It Might Be Useful to Think of Macroeconomics as a Study

question 98

Multiple Choice

It might be useful to think of macroeconomics as a study of ____ and microeconomics as a study of ____.

• A)big corporations, small businesses 
• B)oceans, fish 
• C)the long run, the short run 
• D)abstract, concrete 
• E)theory, reality

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Definitions:

Locus of Control

Refers to the extent to which individuals believe they can control events affecting them.

Depressive Cognitive Triad

A concept in cognitive theory of depression focusing on negative views about the self, the world, and the future held by depressed individuals.

Vicious Cycle

A sequence of reciprocal cause and effect in which two or more elements intensify and aggravate each other, leading to a worsening situation.

Negative Thoughts

Unwanted and often self-defeating thoughts that can be critical, pessimistic, or fearful in nature.