Tag: microeconomics and macroeconomics : introduction

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Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

___________ is a microeconomics domain.

  1. Hardening of interest rates

  2. Strengthening of rupee against dollar

  3. Stagnation of economic growth

  4. Increased CNG rates by IGL
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Increased CNG rates by IGL comes under the domain of Microeconomics. Microeconomics is that part of economics which deals with the individual units of the economy. It takes into account the demand and supply of individual units and helps in studying the prices of products according to it. All the other options are the concern of macroeconomics.

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

____________ is/are the concerns of macroeconomics.

  1. rate of inflation

  2. population growth

  3. rate of unemployment

  4. all of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

All these options are the concerns of Macro economics. The term ‘Macro’ means large. So Macroeconomics is that part of economics which studies the economic problems and issue that are on a large scale. It studies about the performance of the economy as a whole and not of any individual firm or business. It focuses on the study of problems like inflation, unemployment, poverty, etc. 

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

In macroeconomics, we examine things such as ___________.

  1. questions of what, how and for whom

  2. relation between price and consumer demand

  3. interrelations among individual households and business firms.

  4. the overall price level/GDP growth
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

In macro economics, we examine things such as the overall price level or GDP growth. 

The term ‘Macro’ is derived from the Greek word 'Makro' meaning large. So Macroeconomics is that part of economics which studies the economic problems and issue that are on a large scale. It studies about the performance of the economy as a whole and not of any individual firm or business. It focuses on the study of problems like inflation, unemployment, poverty, etc.  

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

Which of these are outside the domain of Microeconomics?

  1. Consumer behaviour

  2. Factor pricing

  3. Economic growth

  4. Study of firm
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Economic growth is outside the domain of Microeconomics. Microeconomics is that part of economics which deals with the individual units of the economy and not the issues that occur on a national scale like, economic growth and employment. It takes into account the demand and supply of individual units. 

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

Macroeconomics focuses primarily on __________.

  1. unemployment, inflation, economic growth, and other aggregate economic phenomena

  2. pricing of essential commodities

  3. changing in consumer preference

  4. consumer purchasing patterns
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The term ‘Macro’ means large. So Macroeconomics is that part of economics which studies the economic problems and issue that are on a large scale. It studies about the performance of the economy as a whole and not of any individual firm or business. It focuses on the study of problems like inflation, unemployment, poverty, etc. 

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

____________ is outside the domain of macroeconomics.

  1. Consumer behaviour

  2. National income

  3. Economic growth

  4. Balance of payment and trade
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

  • Macroeconomics is that part of economics which studies the economic problems and issue that are on a large scale. 
  • It studies about the performance of the economy as a whole and not of any individual firm or business. 
  • Thus national income, economic growth and balance of payments and trade are the concern of macro economics whereas consumer behavior is the concern of micro economics.  


Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

Study of the overall behavior of the economy is called ______.

  1. normative economics

  2. positive economics

  3. macroeconomics

  4. microeconomics
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Macroeconomics
1. It is that part of economics which deals with the economic issues that take place on a large scale. 
2. It takes into account aggregate demand and aggregate supply.  
3. It aims to determine income and employment level of the economy. 
4. Example: National income, National output.

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

___________ is the study that considers aggregate behaviour, and the study of the sum of individual economic decisions.

  1. Normative economics

  2. Positive economics

  3. Macroeconomics

  4. Microeconomics
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Macroeconomics
1. It is that part of economics which deals with the economic issues that take place on a large scale. 
2. It takes into account aggregate demand and aggregate supply.  
3. It aims to determine income and employment level of the economy. 
4. Example: National income, National output.

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

___________ is/are in the domain of macroeconomics.

  1. Hardening of interest rates

  2. Strengthening of rupee against dollar

  3. Stagnation of economic growth

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

All these options are the concerns of Macro economics. The term ‘Macro’ means large. So Macroeconomics is that part of economics which studies the economic problems and issue that are on a large scale. It studies about the performance of the economy as a whole and not of any individual firm or business. It focuses on the study of problems like inflation, unemployment, poverty, etc. 

Multiple choice business economics and quantitative methods introduction to micro economics microeconomics and macroeconomics : introduction economic ideas of j k mehta micro and macro economics

To study the impact of increase in CRR on inflation is the subject matter of ___________.

  1. normative economics

  2. positive economics

  3. macroeconomics

  4. microeconomics
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The study of impact of increase in CRR on inflation is the subject matter of macro economics. 

The term ‘Macro’ is derived from the Greek word 'Makro' meaning large. So Macroeconomics is that part of economics which studies the economic problems and issue that are on a large scale. It studies about the performance of the economy as a whole and not of any individual firm or business. It focuses on the study of problems like inflation, unemployment, poverty, etc.