The Basic Difference Between Macroeconomics and Microeconomics Is

question 26

Multiple Choice

The basic difference between macroeconomics and microeconomics is:

• A) microeconomics concentrates on individual markets while macroeconomics focuses primarily on international trade.
• B) microeconomics concentrates on the behavior of individual consumers while macroeconomics focuses on the behavior of firms.
• C) microeconomics concentrates on the behavior of individual consumers and firms while macroeconomics focuses on the performance of the entire economy.
• D) microeconomics explores the causes of inflation while macroeconomics focuses on the causes of unemployment.

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Definitions:

Mixed Methods

An approach in which both quantitative and qualitative procedures are used.

Participatory Action Research (PAR)

Research that combines an action-oriented goal and the participation of research subjects.

Causality

A relationship in which one variable causes a change in another variable.

Social Research

The study of societies and the relationships among individuals within those societies using various methods of empirical investigation and critical analysis to develop a body of knowledge.