Economy, asked by pravesh4155, 9 months ago

Macro economics theory: income and employment::micro economic:

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Answered by sweetnidhiyadav77777

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Answered by ayeshawaseemtahir

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Macroeconomics: encompasses a variety of concepts and variables, but there are three central topics for macroeconomic research. Macroeconomic theories usually relate the phenomena of output, unemployment, and inflation.

Income and employment theory: a body of economic analysis concerned with the relative levels of output, employment, and prices in an economy. By defining the interrelation of these macroeconomic factors, governments try to create policies that contribute to economic stability. Income and employment theory.

Microeconomics: is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms.

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