Macroeconomics often relies on microeconomic analysis because
A) microeconomics is older than macroeconomics.
B) microeconomic theory can be tested and macroeconomic theory cannot be tested.
C) all aggregates are made up of individuals and firms.
D) the effects of macroeconomic subjects such as inflation and unemployment are independent of individual consumers and firms.
Question 2
Which of the following activities are production?
A) combining flour, milk, and eggs to make cookies
B) moving coal from southern Illinois to an electrical power plant in northern Illinois
C) taking ice cubes from a tray to put in a drink
D) All of the above are production.
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