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- Subject
- Application of Economicseconomics-mcqs › application-of-economics
- Published
- 2 Jun 2019
- Last updated
- 28 May 2026
Which of the following statements about microeconomics and macroeconomics is incorrect?
Multiple choice question for Application of Economics. Select an option, then review the explanation below.
Explanation
Option A is false because the study of very large industries is actually part of microeconomics, not macroeconomics. Macroeconomics deals with broad economic factors affecting the whole economy, while microeconomics focuses on individual markets and industries. Additionally, microeconomics provides the groundwork for macroeconomic analysis, and the two fields are interconnected and cannot be fully separated.
More Application of Economics MCQs
Practice related questions from the same subject.
- 1.Two economists are debating the impact of government spending on unemployment. One claims that increasing government expenditure by 50 billion dollars would reduce unemployment by one percentage point. The other argues that the same spending would only lower unemployment by 0.1%, and even then, the effect would be short-lived. What best explains their disagreement?
- 2.Which of the following topics falls under the study of microeconomics?
- 3.What are positive statements characterized by?
- 4.Which of the following statements expresses a normative viewpoint?
- 5.Which of the following factors does not cause the production possibilities curve of a country to expand outward?