Define Macro-Economics
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Macro-Economics can be defined as follows:
Explanation: Macro-Economics refers to that branch of economics which studies the economic problems as a whole such as unemployment, growth rate etc. Various policies and strategies are being formulated by the Government by keeping in mind various macro-economic factors.
Scope of Macro-economics:
- Theory of Employment
- Theory of General Price Level
- Theory of Money
- Theory of National Income
- Theory of Economic Growth
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Macro-Economics:
- Macroeconomics is the analysis of the behavior of the economy as an entire. It examines the total level of the nation's output, prices, employment, and foreign trade.
- Macroeconomics theory explaining the evaluation of national income, the aggregate level of consumption, saving and investment, employment and growth rate, the behavior of the normal price level, determination of product and money market equilibrium, exchange rate and balance of payments constitute the main body of theoretical macroeconomics.
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