The basic difference between macroeconomics and microeconomics is that
A) macroeconomics looks at how people make choices, and microeconomics looks at why they make those choices.
B) macroeconomics is concerned with economic policy, and microeconomics is concerned with economic theory.
C) macroeconomics focuses on the aggregate economy, and microeconomics focuses on small components of that economy.
D) macroeconomics is associated with the fallacy of composition, and microeconomics has little to do with the fallacy of composition.

Question

Quizplus · Accepted Answer

Macroeconomics is concerned with the overall performance and behavior of the economy, including issues such as inflation, unemployment, and economic growth. Microeconomics, on the other hand, looks at individual consumers, businesses, and industries and how they make decisions about market interactions. Therefore, macroeconomics focuses on the aggregate economy, while microeconomics focuses on small components of that economy.

The Basic Difference Between Macroeconomics and Microeconomics Is That