Answer:
The answer is C.
Explanation:
Macroeconomics is the study of the economy as a whole, unlike microeconomics which is the study of the individual firms/markets.
Macroeconomics focuses on the standard of living, unemployment rate, inflation rate etc. and how this affects the whole economy.
Option A is wrong because it is the microeconomics and not macroeconomics that studies the market and the firm.
Option B and D are wrong because these are for microeconomics
Answer:
B. False
Explanation:
In a sealed bidding, bidders have no opportunity to discuss/negotiate. They just present an offer adjusted to the terms of the requirer of the good or service that is submitted to bidding.
Answer:
Option (D) is correct.
Explanation:
Perfect substitute goods are the goods which can be used in place of each other.
Perfect substitutes refers to the goods which are having identical characterstics, features and provide the exactly same level of satisfaction.
The marginal rate of substitution for these perfect substitute goods remains constant which means that the trading of one good for the another good is at a fixed rate.
