ECONOMICS
GDP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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focuses on the individual and businesses
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looks at the big picture and looks at teh study of measurement of how healthy the economy is
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focuses on fundamental principles of economics
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does not involve the government
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Detailed explanation-1: -Macroeconomics is a branch of economics that studies how an overall economy-the markets, businesses, consumers, and governments-behave. Macroeconomics examines economy-wide phenomena such as inflation, price levels, rate of economic growth, national income, gross domestic product (GDP), and changes in unemployment.
Detailed explanation-2: -Definition: Macroeconomics is the branch of economics that studies the behavior and performance of an economy as a whole. It focuses on the aggregate changes in the economy such as unemployment, growth rate, gross domestic product and inflation.
Detailed explanation-3: -Economists also look at two realms. There is big-picture macroeconomics, which is concerned with how the overall economy works. It studies such things as employment, gross domestic product, and inflation-the stuff of news stories and government policy debates.
Detailed explanation-4: -Macroeconomic analysis broadly focuses on three things-national output (measured by gross domestic product), unemployment, and inflation, which we look at below.
Detailed explanation-5: -According to ‘Edward Shapiro Macro economics in its briefest is the study of economy’s total output, employment and the price level. In the words of Ackley, “Macro economics deals with economic affairs in the large. It concerns the overall dimensions of economic life.