The Basic Difference Between Macroeconomics and Microeconomics Is That

question 181

Multiple Choice

The basic difference between macroeconomics and microeconomics is that:

• A)​microeconomics looks at aggregate markets while macroeconomics is concerned with individual markets.
• B)​macroeconomics is concerned with policy decisions while microeconomics applies only to theory.
• C)​microeconomics is concerned with individual markets while macroeconomics is concerned with aggregate markets.
• D)​macroeconomics is concerned with positive economics while microeconomics is concerned with normative economics.

Describe the role of the parol evidence rule in interpreting written contracts.

Explain the main purpose doctrine and its significance in suretyship provisions.

Gain familiarity with the UCC's provision on the sale of goods and its implications for contract enforceability.

Understand the relevance of past dealings, courses of performance, and trade usages in contract interpretation.

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Definitions:

Hedger

An investor or trader who enters into contracts to protect against future price fluctuations of an asset.

Call Option

A Call Option is a financial contract that gives the holder the right, but not the obligation, to buy a specific amount of an asset at a predetermined price within a specified period.

Put Option

A financial deal that provides the holder the privilege, yet not the compulsion, to offload a specified quantity of a basic asset at a fixed rate within an established timeframe.

Underlying Asset

The financial instrument (such as stocks, bonds, commodities) upon which derivatives and other financial instruments are based.