The statements, economics studies the decision-making process and macroeconomics studies the decisions of individual consumers and firms are true.
<h3>What is macroeconomics? </h3>
Macroeconomics is a branch of economics and it deals with the performance, structure, behaviour, and decision-making of an economy as a whole. For example, to regulate an economy’s growth and stability it uses interest rates, taxes, and government spending.
Macroeconomists study topics such as Gross Domestic Product, unemployment rates, national income, price indices, output, consumption, inflation etc. It is the study of the whole economy, the part of economics concerned with large-scale or general economic factors and how they interact in economies.
The two most general fields in economics are macroeconomics and microeconomics.
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