Microeconomics Deals With

question 135

Multiple Choice

Microeconomics deals with:

• A) the working of the entire economy or large sectors of it.
• B) employment, growth, and inflation.
• C) individual units in the economy.
• D) normative economics for the most part.

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Definitions:

Presentation Currency

The currency in which the financial statements of an entity are presented.

Non-Monetary Items

Items that are measured at historic cost rather than their current monetary value, such as property, plant, and equipment.

Functional Currency

The currency of the primary economic environment in which an entity operates, usually the local currency or the currency of the country where it primarily generates and expends cash.