GENERAL KNOWLEDGE

Detailed explanation-1: -Microeconomics and macroeconomics are not independent approaches to economic analysis but they are complementary to each other.

Detailed explanation-2: -False. Was this answer helpful?

Detailed explanation-3: -Microeconomic analysis offers insights into such disparate efforts as making business decisions or formulating public policies. Macroeconomics is more abstruse. It describes relationships among aggregates so big as to be hard to apprehend-such as national income, savings, and the overall price level.

Detailed explanation-4: -Microeconomics and macroeconomics both explore the same elements, but from different points of view. The main differences between them are: Macroeconomics seeks to find a general perspective, at a national level, while microeconomics focuses on the individual’s perspective, at a consumer level.

Detailed explanation-5: -Purpose. Microeconomics and macroeconomics examine similar financial situations, such as resource allocation and the changing rates of economic progress. Both concepts are complementary, as analysts often use microeconomic principles to provide a context for large-scale financial investigations.