Canadian Securities Course (CSC) Level 1 Practice Exam

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What is the difference between micro and macroeconomics?

  1. Micro focuses on individual markets, while macro addresses broader economic issues

  2. Micro looks at global economic trends, while macro focuses on local markets

  3. Micro relates to personal finances, while macro pertains to government budgets

  4. Micro involves retail economics, while macro looks at wholesale economics

The correct answer is: Micro focuses on individual markets, while macro addresses broader economic issues

Microeconomics focuses on individual markets, such as supply and demand for specific goods and services, the behavior of firms and consumers, and how prices are determined in specific industries. On the other hand, macroeconomics addresses broader economic issues at the national or global level, including overall economic growth, inflation, unemployment, and monetary and fiscal policies. Therefore, the correct answer is A, as it accurately differentiates between micro and macroeconomics based on the scope of the economic analysis each field encompasses.

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