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- Subject
- Application of Economicseconomics-mcqs › application-of-economics
- Published
- 2 Jun 2019
- Last updated
- 28 May 2026
Explanation
Option A is false because the study of very large industries is actually part of microeconomics, not macroeconomics. Macroeconomics deals with broad economic factors affecting the whole economy, while microeconomics focuses on individual markets and industries. Additionally, microeconomics provides the groundwork for macroeconomic analysis, and the two fields are interconnected and cannot be fully separated.
More Application of Economics MCQs
Practice related questions from the same subject.
- 1.Two economists are debating the impact of government spending on unemployment. One claims that increasing government expenditure by 50 billion dollars would reduce unemployment by one percentage point. The other argues that the same spending would only lower unemployment by 0.1%, and even then, the effect would be short-lived. What best explains their disagreement?
- 2.Which of the following topics falls under the study of microeconomics?
- 3.What are positive statements characterized by?
- 4.Which of the following statements expresses a normative viewpoint?
- 5.Which of the following factors does not cause the production possibilities curve of a country to expand outward?
- 6.Two economists are debating government policies on unemployment. One claims that combating unemployment is crucial because it is the worst social problem, while the other argues that inflation is the most serious social issue. What does this disagreement indicate about the economists?
- 7.Which of the following statements reflects an economist adopting a scientific approach?
- 8.Which of the following best illustrates economic growth?
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