Question

3. Discuss the nature and scope of macro Economics.​

Answer 1

Answer:

Macroeconomics is a part of economic study which analyzes the economy as a whole. It is the average of the entire economy and does not study any individual unit or a firm. It studies the national income, total employment, aggregate demand and supply etc.

Nature of Macroeconomics

Macroeconomics is basically known as theory of income. It is concerned with the problems of economic fluctuations, unemployment, inflation or deflation and economic growth. It deals with the aggregates of all quantities not with individual price levels or outputs but with national output.

        1)Aggregate volume of the output of an economy

       2)Extent to which resources are employed

       3)Size of the national income

      4)General price level

Scope of Macroeconomics

      1) Working of the Economy

      2) In Economy Policies  regarding national income , unemployment ,                economic growth, monetary problems

      3)Understanding the Behavior of Individual Units