Section: Principles of Microeconomics

18) Which of the following refers to microeconomics?

the study of the aggregate level of economic activity
the study of the cause of unemployment
the study of the economic behavior of individual decision-making units such as consumers and business firms.
the study of the cause of inflation
none of the above

Explanation

Microeconomics is the study of the economic behavior of individual decision-making units such as consumers and business firms.

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