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Identify the correctly matched pair of items in Column A to those in Column B:
Column A:
1. Markets in the Economy 2. National Income 3. Total Cost 4. Net National Product
Column B:
(a) Producers only b) Macroeconomics (c) Both Micro and Macroeconomics (d) Microeconomics
1 - (a)
2 - (b)
3 - (c)
4 - (d)
Option (2) is correct.
Explanation: Macroeconomics is the study of behaviour of an economy as a whole. National Income is the value of total final goods produced by an economy. Thus, the study of National Income is related to macroeconomics.
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