Change felt through new patterns of individual and small-group interaction is called_______________?
Correct answer: B. micro-level change
- A. diffusion
- B. micro-level change
- C. innovation
- D. macro-level change
Explanation
Micro-level change occurs in face-to-face relationships and the interaction patterns of individuals or small groups. Macro-level change affects large institutions or entire societies, while diffusion describes the spread of an innovation.
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The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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