What does microeconomics primarily study?
A) The overall economy of a country
B) The behavior of individual consumers and firms
C) The aggregate levels of national income and output
D) The global economy
Macroeconomics deals with:
A) Household decisions and individual markets
B) The overall functioning of the economy at a national or global level
C) The allocation of resources within individual firms
D) The supply and demand of specific goods
Which of the following is a subject of study in microeconomics?
A) National unemployment rates
B) Inflation and GDP growth
C) The pricing of specific goods and services
D) The monetary policy of a country
The primary focus of macroeconomics is on:
A) Consumer behavior and firm pricing strategies
B) The determination of wages in specific industries
C) The performance of the economy as a whole
D) The individual decisions of firms and households
Microeconomics is mainly concerned with:
A) Long-term economic growth
B) National budget deficits
C) The supply and demand for individual goods
D) International trade policies
Which of the following is an example of a macroeconomic issue?
A) How a company sets its prices
B) The study of market competition between firms
C) The level of inflation in a country
D) The decision-making process of a consumer
Microeconomics typically analyzes:
A) Aggregate national output
B) Unemployment rates at the national level
C) Individual industries and specific markets
D) Inflation and government spending
Macroeconomics looks at issues such as:
A) Household savings rates
B) How firms decide on product pricing
C) National income and unemployment levels
D) Consumer preferences in specific markets
Microeconomics focuses on:
A) National income levels
B) The role of government in the economy
C) The behavior of individual consumers and firms
D) Aggregate economic growth rates
Which of the following is a macroeconomic concern?
A) The determination of supply and demand in a local market
B) The effect of interest rates on the overall economy
C) The pricing strategy of an individual company
D) The wages of a particular profession
Which economic theory would likely analyze how changes in wages affect unemployment?
A) Microeconomics
B) Macroeconomics
C) Public finance
D) Behavioral economics
The concept of “elasticity of demand” is primarily studied in:
A) Macroeconomics
B) Microeconomics
C) International economics
D) Development economics
Macroeconomics is concerned with:
A) Consumer choice theory
B) The price of a single good
C) The total output and income of a country
D) The demand for a specific product
Microeconomics assumes that:
A) All factors of production are fixed
B) The economy is in equilibrium
C) Individuals and firms make decisions based on scarcity
D) The government controls the economy
Which of the following is an example of a microeconomic issue?
A) Government’s role in controlling inflation
B) The effect of tax cuts on national savings
C) How a firm sets prices for its products
D) The level of investment in a country’s infrastructure
Macroeconomics typically addresses:
A) The individual consumption patterns of households
B) The economic policies of individual firms
C) The overall economic performance of a country
D) The pricing of a specific good in a market
Which of the following is studied in both microeconomics and macroeconomics?
A) Unemployment rates
B) Aggregate demand and supply
C) Inflation
D) The role of prices in the economy
The study of national inflation rates is a subject of:
A) Microeconomics
B) Macroeconomics
C) Business economics
D) International economics
In microeconomics, the concept of “marginal utility” refers to:
A) The satisfaction obtained from an additional unit of a good
B) The total utility derived from all units of a good
C) The average cost of producing a good
D) The overall economic growth of a nation
Which area of economics studies the behavior of individual firms and industries?
A) Macroeconomics
B) Microeconomics
C) Environmental economics
D) Global economics
Macroeconomics is primarily concerned with:
A) Individual economic agents like households and firms
B) The allocation of resources within an economy
C) The behavior of the economy as a whole, such as GDP and inflation
D) Consumer preferences for goods and services
The study of aggregate supply and aggregate demand is a concept in:
A) Microeconomics
B) Macroeconomics
C) Behavioral economics
D) Development economics
In which branch of economics would you analyze the effects of a price floor on a specific market?
A) Macroeconomics
B) International economics
C) Microeconomics
D) Development economics
Macroeconomics investigates:
A) The impact of interest rates on individual savings accounts
B) The global competitiveness of individual firms
C) Unemployment, inflation, and fiscal policies in a country
D) The behavior of individual consumers in a market
Microeconomics assumes that:
A) Economic decisions are made based on aggregate information
B) The economy is always in equilibrium
C) The actions of individuals and firms have a direct effect on supply and demand
D) The government controls all aspects of production
The study of fiscal policy (government spending and taxation) is part of:
A) Microeconomics
B) Macroeconomics
C) Monetary economics
D) Business economics
