Microeconomics Helps Explain Economic Fluctuations, Why the Economy Shrinks and Expands

question 118

True/False

Microeconomics helps explain economic fluctuations, why the economy shrinks and expands and why some of the economy's resources are idle.

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Definitions:

Frustration

An emotional response to opposition, related to anger and disappointment, that arises from the perceived resistance to the fulfillment of an individual's will or goal.

Temperament

The innate or genetically based aspect of an individual's personality, influencing behavior and emotional reactions from an early age.

Predictable

Capable of being known in advance or anticipated with reasonable accuracy.

Adapts

The act of making adjustments or changes in oneself or in a system to better suit new conditions or environments.