The Basic Difference Between Macroeconomics and Microeconomics Is That

question 79

Multiple Choice

The basic difference between macroeconomics and microeconomics is that

• A) macroeconomics is concerned with the forest (aggregate markets), while microeconomics is concerned with the individual trees (subcomponents).
• B) macroeconomics is concerned with policy decisions, while microeconomics applies only to theory.
• C) microeconomics is concerned with the forest (aggregate markets), while macroeconomics is concerned with the trees (subcomponents).
• D) opportunity cost is applicable to macroeconomics, and the fallacy of composition relates to microeconomics.

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Definitions:

Nerve

A bundle of fibers that transmits electrical impulses between the brain and other parts of the body, essential for sensation and movement.

Metabolism

The set of life-sustaining chemical reactions in organisms for energy generation and molecular synthesis.

Cytoplasm

A jelly-like substance within a cell that contains the organelles, excluding the nucleus.

Chromosomes

Structures within cells that contain DNA and genetic information needed for the development, function, and reproduction of living organisms.