Which of the following statement is correct? i. Microeconomic environment affects an entire economy and all of its participants ii. Macroeconomic environment affects an entire economy and all of its participants a. Both i and ii are incorrect b. Only ii c. Both i and ii are correct d. Only i

Which of the following statement is correct? i. Microeconomic environment affects an entire economy and all of its participants ii. Macroeconomic environment affects an entire economy and all of its participants a. Both i and ii are incorrect b. Only ii c. Both i and ii are correct d. Only i

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter1: The Role And Method Of Economics

Section: Chapter Questions

Problem 4P

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Question

Which of the following statement is correct?
i. Microeconomic environment affects an entire economy and all of its participants
ii. Macroeconomic environment affects an entire economy and all of its participants

a.
Both i and ii are incorrect

b.
Only ii

c.
Both i and ii are correct

d.
Only i

Branch of economics that analyzes the behavior and performance of an economy as a whole. It focuses on the study of aggregates and evaluates changes related to unemployment, gross domestic product, inflation, monetary and fiscal policies of the government.

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