Question 17 of 41
Q.Explain the scope of Macro economics.
Maharashtra MsbshseMaharashtra HSC (MSBSHSE) Board 2022Subjective· 4mImportance★★★★★
41% · 17/41 Questions
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Start your 14-day free trial to unlock the full solution →The scope of macroeconomics covers national income and employment, the general price level, economic growth, and macro distribution.
Macroeconomics analyses aggregate variables that describe the whole economy rather than individual units. Its scope includes the following main areas:
- Theory of Income and Employment — It explains what determines the level of national income and total employment, using aggregate demand and aggregate supply, and studies the causes of unemployment and business cycles (trade cycles).
- Theory of General Price Level — It studies how the average level of prices is determined and the causes and cures of inflation (rising prices) and deflation (falling prices).
- Theory of Economic Growth — It examines the long-run increase in a country's real national income and per-capita income, and the factors and policies that raise the standard of living. …
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