GENERAL KNOWLEDGE

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: -Macroeconomics is a branch of economics which deals with the performance, structure, behavior, and decision-making of an economy as a whole. For example, using interest rates, taxes, and government spending to regulate an economy’s growth and stability.

Detailed explanation-4: -Economics is the study of scarcity and its implications for the use of resources, production of goods and services, growth of production and welfare over time, and a great variety of other complex issues of vital concern to society.

Detailed explanation-5: -Macroeconomics does not study product pricing. Explanation: Macroeconomics studies an economy as a whole. It focuses on aggregate measures such as aggregate demand, aggregate supply and aggregate price level.