1) Microeconomics is NOT concerned with the behavior of : a) Aggregate Demand b) Consumers c) Industries d) Firms 2) Macroeconomics deals with: a) The behavior of firms b) Economic aggregates c) The activity of individual units d) The behavior of the electronics industry a) Income and money b) Wages and salaries 3) The circular flow of goods and incomes shows the relationship between: sohq {CLO: KN1} c) Firms and households d) Goods and services {CLO: KN1} 5) Cross Elasticity of demand is : {CLO: KN1} 4) Total Revenue falls as the price of good increases if price elasticity of demand is: {CLO: SK1} a) Perfectly elastic b) Unitary elastic c) Inelastic d) Elastic a) Negative for commentary goods b) Unitary for inferior goods c) Negative for substitute goods d) Positive for inferior goods {CLO: SK1}