Macroeconomics Is

question 54

Multiple Choice

Macroeconomics is:

• A) based on microeconomic foundations.
• B) completely separate from microeconomics.
• C) explicitly based on microeconomic behavior.
• D) a subsidiary branch of microeconomics.

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Definitions:

Mean

The arithmetic average of a set of numbers, found by dividing the sum of these numbers by the count of the numbers in the set.

Function

A relationship between a set of inputs and a set of permissible outputs, where each input is related to exactly one output.

Probability

The measure of the likelihood that an event will occur.

Function

A mathematical relation between a set of inputs and a set of permissible outputs with the property that each input is related to exactly one output.