Author Question: The distinction between microeconomics and macroeconomics is A) clearly drawn, and there is no ... (Read 121 times)

captainjonesify · **on:** Jun 29, 2018

The distinction between microeconomics and macroeconomics is

A) clearly drawn, and there is no overlap between them.
B) determined by economists in a clear and concise manner.
C) narrowly drawn, and microeconomic analysis often relies on macroeconomic tools.
D) often blurred because aggregates are made up of individuals and firms.

Question 2

Other things being equal, an increase in the price of a good leads to a decrease in the amount people purchase. This is known as

A) the law of demand.
B) the law of supply.
C) ceteris paribus.
D) equilibrium.