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In the question given below, there are 2 statements marked as Assertion (A) and Reason (R). Choose the correct alternative from the following options. Assertion (A)- Both microeconomics and macroeconomics are interdependent on each other. Reason (R)- Macroeconomics is not always restricted to individuals whereas, microeconomics deal with aggregates at larger level.
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Both (A) and (R) are true and (R) is the correct explanation. Both (A) and (R) are true but (R) is not the correct explanation of (A). (A) Is true but (R) is false. Both A and R are false |
(A) Is true but (R) is false. |
The correct answer is Option 3: (A) Is true but (R) is false. Assertion (A): "Both microeconomics and macroeconomics are interdependent on each other." This statement is true. Microeconomics (study of individual units) and macroeconomics (study of the economy as a whole) are interdependent. For example, aggregate demand (a macroeconomic concept) is based on the decisions of individual consumers and firms (microeconomic units). Reason (R): "Macroeconomics is not always restricted to individuals whereas microeconomics deals with aggregates at a larger level." This statement is false. Macroeconomics deals with aggregates such as national income, overall employment, inflation, etc. On the other hand, microeconomics deals with individual decision-making units like households and firms, not with aggregates. |
