Question

The distinction between microeconomics and macroeconomics is

A.that microeconomics examines the beach, while macroeconomics looks at the sand, individual rocks, and shells, so to speak.

B.so clear-cut that every topic can be readily labeled as either macro or micro.

C.that microeconomics studies the behavior of individual consumers, workers, and firms, while macroeconomics studies the economy as a whole.

D.that microeconomics seeks to obtain an overview, while macroeconomics observes the details of individual components.

Answer 1

Option C

C.that microeconomics studies the behavior of individual consumers, workers, and firms, while macroeconomics studies the economy as a whole.

A microeconomics study for individual and macroeconomics study of the whole economy.

Microeconomics,

Studying consumer behavior to price change, producer behavior, etc.

Macroeconomics,

Inflation targeting for the whole economy

Unemployment levels in the economy etc.