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Which one of the following is true? Select one: a
Which one of the following is true? Select one: a. Microeconomics is the study of an economy as a whole. b. Macroeconomics studies how individuals make choices. C. The study of the inflation rate is covered under microeconomics. d. The study of the unemployment rate is covered under macroeconomics e. Microeconomics describes what economic agents actually do, whereas macroeconomics describes what economic agents ought to do
Expert Solution
ANSWER - (d)
(a) Microeconomics is the study of the economy as a whole
This statement is wrong, Macroeconomics is the study of economy as a whole
(b) Macroeconomics studies of how? individuals makes?choices
This statement is wrong, Microeconomics studies how the individual or firm or govt makes choices
(c) Iinflation rate study is covered under microeconomics
This statement is wrong, inflation rate study is under Macroeconomics
(d) Unemployment rate study is covered under macroeconomics
This statement is true, it is covered under macroeconomics
So, the correct option is (d)
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