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About Macro Economics 1
Macroeconomics deals with an economy as a whole rather than individual markets. It analyzes aggregates like national income, price levels, and output rather than individual prices and outputs. Microeconomics focuses on individual markets and agents, while macroeconomics analyzes economy-wide phenomena like employment levels, inflation, and economic growth. The tools and methods of analysis differ between the two branches, with macroeconomics considering how imbalances between supply and demand can be resolved through changes in quantities as well as prices. Modern macroeconomics evolved from concepts like national income, monetary value, and trade cycles and was formalized by John Maynard Keynes in the 1930s.
Detailed Information
| Author: | ['MERSHA'] |
|---|---|
| Publication Year: | 2021 |
| Pages: | 52 |
| Language: | English |
| Format: | |
| Price: | FREE |
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