What Is Macroeconomics

Macro Economics:

The branch of economics that studies the entire economy, especially such topics as aggregate production, unemployment, inflation, and business cycles. It can be thought of as the study of the economic forest, as compared to microeconomics, which is study of the economic trees. Macroeconomics, involves the “sum total of economic activity, dealing with the issues of growth, inflation, and unemployment and with national economic policies relating to these issues” and the effects of government actions (e.g., changing taxation levels) on them.



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