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Economics
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The basic tools of supply and demand are central to microeconomic analysis but are of little use to macroeconomics.

O a. True

O b. False 

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Mahe Alam
Mahe AlamLv10
26 Mar 2021

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Related questions

The basic tools of supply and demand are:

A. useful only in the analysis of economic behavior in individual markets.

B. useful in analyzing the overall economy, but not in analyzing individual markets.

C. central to microeconomic analysis, but seldom used in macroeconomic analysis. 

D. central to macroeconomic analysis as well as to microeconomic analysis.

  1. explain key microeconomics terminology
  2. differentiate between microeconomics and macroeconomics
  3. create and use economics graphs and numerical models to analyse and solve microeconomic problems.
  4. explain the costs and benefits of internatinal trade, including calculation of gains from trade.
  5. anayze the implact of government activity in markets.
  6. determine optimal consumer buying decisions in the context of utility theory.
  7. compare and contrast optimal pricising and output decisions in various market structures
  8. apply supply and demand theory to both prodcut and factor markets

The economic perspective refers to:
 
A. Macroeconomic phenomena but not microeconomic phenomena.
B. Microeconomic phenomena but not macroeconomic phenomena. 
C. The making of rational decisions in the context of marginal benefits and marginal costs. 
D.Unlimited resources in the context of limited wants. 

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