In Broad Terms the Difference Between Microeconomics and Macroeconomics Is

question 175

Multiple Choice

In broad terms the difference between microeconomics and macroeconomics is that

• A) they use different sets of tools and ideas.
• B) microeconomics studies decisions of individual people and firms and macroeconomics studies the entire national economy.
• C) macroeconomics studies the effects of government regulation and taxes on the price of individual goods and services whereas microeconomics does not.
• D) microeconomics studies the effects of government taxes on the national unemployment rate.

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Definitions:

Bird-like Hip

A type of pelvis structure found in some dinosaurs characterized by a forward-tilting pubis, similar to that of birds.

Mesozoic Era

A geological era that occurred between 252 and 66 million years ago, characterized by the dominance of dinosaurs.

Paleozoic

An era in the geologic time scale, occurring from about 541 million to 252 million years ago, noted for the early development of life on Earth.

Crinoids

Marine animals belonging to the class Crinoidea, characterized by a mouth on the top surface surrounded by feeding arms, part of the echinoderm phylum.