Microeconomics Includes the Study of

question 30

Multiple Choice

Microeconomics includes the study of

• A)the overall amount of production within the economy.
• B)how countries decide to fund their budget deficits.
• C)the effect on the national economy of the choices that individuals make.
• D)how a nation promotes economic growth.
• E)the choices that individuals and businesses make.

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Definitions:

Consequences

The outcomes or result of an action, which can be positive or negative depending on the nature of the action that precipitated them.

Operant Learning

Learning by which the subject learns to operate on the environment to achieve certain consequences.

Generation Y

Also known as Millennials, this demographic cohort follows Generation X and is characterized by birth years ranging from the early 1980s to the late 1990s.

Non-monetary Rewards

Benefits given to employees, not in the form of money, to recognize their performance or motivate them, such as praise, awards, flexible hours, and professional development opportunities.