Question : Which of the following is a topic studied in macroeconomics?
Option 1: Elasticity of demand
Option 2: Production possibilities frontier
Option 3: Utility maximization
Option 4: Economic growth
Correct Answer: Economic growth
Solution : The correct answer is (d) Economic growth.
Macroeconomics focuses on the behavior and performance of an entire economy. It examines aggregate variables and phenomena that affect the overall economy as a whole. Economic growth, which refers to the increase in a country's total output of goods and services over time, is a key topic studied in macroeconomics. Macroeconomics analyzes the factors that contribute to economic growth, such as changes in technology, investment, productivity, and the accumulation of capital. It investigates the determinants of long-term economic growth and explores policies that can promote sustainable and robust economic growth at the national level.
Question : The subject of the study of macroeconomics is based on which principle?
Option 1: The principle of national income.
Option 2: The principle of consumer.
Option 3: The principle of producer.
Option 4: The principle of investment.
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.
Option 1: Statement 1 is true, and statement 2 is false.
Option 2: Statement 1 is false, and statement 2 is true.
Option 3: Both statements 1 and 2 are true.
Option 4: Both statements 1 and 2 are false.
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 : 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.
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