Question

Microeconomics and macroeconomics are not independent approaches to economic analysis but they are complementary to each other.

• A. False
• B. True
• C. Partly true
• D. Partly false

Answer 1

Answer: (B)

True

Micro and macro approaches of economics are very dependent on each other. To know well about the working of an economy, on must have knowledge of both the branches of economics. It can be said that macroeconomics uses the principles of microeconomics as its foundation and the former is a magnified version of the latter.