Question : Assertion (A): Both microeconomics and macroeconomics are supplementary to each other. Reason (R): The superiority of one approach over the other can not be claimed.
Option 1: Both A and R are true and R is the correct explanation of A.
Option 2: Both A and R are true but R is not the correct explanation of A.
Option 3: A is true but R is false.
Option 4: A is false but R is correct.
Correct Answer: Both A and R are true and R is the correct explanation of A.
Solution : The study of macroeconomics and microeconomics complement one another. It is impossible to argue that one strategy is better than another. Hence, the correct option is 1.
Question : Statement 1: Microeconomics focuses on the study of individual economic agents and their behavior.
Statement 2: Macroeconomics focuses on the study of the overall performance and behavior of the economy.
Question : Statement 1: Macroeconomics focuses on studying the aggregate level of economic activity, such as GDP and inflation.
Statement 2: Microeconomics analyzes the behavior of individual consumers and producers in the market.
Question : Which of the following is a topic studied in macroeconomics?
Question : The subject of the study of macroeconomics is based on which principle?
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