Practicing Success
Which of the following options fit best to the given sentence? |
Complementary to each other Substitutes of each other In conflict with each other Unrelated to each other |
Complementary to each other |
The correct answer is option 1: Complementary to each other Macroeconomics and microeconomics are complementary to each other. They are two distinct branches of economics that study different aspects of the economy. Microeconomics focuses on individual economic units such as households, firms, and markets, while macroeconomics examines the economy as a whole, including aggregate variables like GDP, inflation, and unemployment. Understanding both microeconomic and macroeconomic principles is essential for gaining a comprehensive understanding of how the economy functions at both the individual and aggregate levels. Therefore, they complement each other in providing a complete picture of economic phenomena. |