Which statement regarding macroeconomics and microeconomics is TRUE?
A) Microeconomics examines consumer behavior, while macroeconomics studies business behavior.
B) Macroeconomics employs many of the same analytical tools as microeconomics.
C) Because it focuses on national economies, macroeconomics does not study international trade and finance.
D) Neither macroeconomics nor microeconomics is concerned with prices.

Question

Quizplus · Accepted Answer

Macroeconomics and microeconomics are both subfields of economics. While microeconomics focuses on individual actors and markets (such as households and firms), macroeconomics examines the aggregate behavior of entire economies (such as inflation, economic growth, and unemployment). While there are certainly differences between the two subfields, macroeconomics and microeconomics also share many common concepts and analytical tools, such as the use of supply and demand curves and the calculation of elasticity.

Which Statement Regarding Macroeconomics and Microeconomics Is TRUE