The study of microeconomics and macroeconomics differ in that:
A) microeconomics is concerned with the domestic economy and macroeconomics is concerned only with the international economy.
B) microeconomics examines the individual markets of the economy while macroeconomics studies the whole economy.
C) microeconomics studies the actions of households and macroeconomics studies the actions of business firms.
D) microeconomics examines the whole economy while macroeconomics studies the individual units of the economy.

Question

Quizplus · Accepted Answer

Microeconomics focuses on the behavior of individual markets such as supply and demand for a specific good or service, while macroeconomics looks at the overall performance of the whole economy, including factors like inflation, GDP, and government policies. Microeconomics and macroeconomics are complementary to each other and are not concerned with only domestic or international economy.

The Study of Microeconomics and Macroeconomics Differ in That