Asked by Braeli Payne on Jun 03, 2024
Verified
Microeconomics and macroeconomics are closely linked.
Microeconomics
The study of how households and firms make decisions and how they interact in markets.
Macroeconomics
The branch of economics that studies the behavior and performance of an economy as a whole, including topics such as growth, inflation, and unemployment.
- Identify the differences and respective duties of microeconomics in contrast to macroeconomics.
Verified Answer
ZK
Zybrea KnightJun 03, 2024
Final Answer :
True
Explanation :
Microeconomics and macroeconomics are closely linked because the overall behavior of the economy (macroeconomics) is the result of decisions made by individual households and firms (microeconomics). Changes in the macroeconomic environment can affect microeconomic decisions, and vice versa.
Learning Objectives
- Identify the differences and respective duties of microeconomics in contrast to macroeconomics.
Related questions
In Years of Economic Contraction, Firms Throughout the Economy Increase ...
Macroeconomics Is the Study Of ...
Macroeconomics Explains the Behavior of Individual Households and Business Firms;microeconomics ...
When Economists Are Trying to Explain the World, They Are ...
Microeconomics Is the Study of How Households and Firms Make ...