Question

Macroeconomics is a study of economics that deals with which 4 major factors

Answer 1

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Answer 2

Answer:

The four major factors of Macroeconomics are:

1. Gross Domestic Product
2. National Income
3. Unemployment level
4. Inflation

Explanation:

• Macroeconomics is a branch of economics that studies the behavior of a whole economy, such as a market or other large-scale systems.
• In contrast to microeconomics, which focuses on the choices made by individual actors in the economy (such as people, households, industries, and so on), macroeconomics is concerned with the performance, structure, and behavior of the entire economy.

The four key macroeconomic factors are:

1. Gross Domestic Product (GDP)

It is a standard measure of the value-added generated by the production of goods and services over a given time period.

2. National Income

National income refers to the entire amount of money earned inside a country.

3. Unemployment Level

The level of unemployment, often known as the unemployment rate, is the percentage of the labor force in a certain country that is unemployed.

4. Inflation

It is the gradual rise in the average cost of goods and services in a given economy over time.