GK
BUSINESS ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Determining the GNP of India.
|
|
|
Finding the causes of failure of ABC Ltd.
|
|
|
Identifying the causes of inflation in India.
|
|
|
Analyse the causes of failure of cotton industry in providing large scale employment
|
Detailed explanation-1: -Macro economics deals in the study of a nation’s aggregate demand, aggregate supply, national income, employment, inflation etc. Therefore, it does not deal in individual variables like X and Co, it is micro approach because micro deals with individual part of the society.
Detailed explanation-2: -The correct answer is option 2, i.e. the determination of prices in the agricultural sector. Agricultural prices do affect macroeconomics, but it is not a direct issue studied, unlike the other three.
Detailed explanation-3: -General price level is related to the prices of most of the commodity in a nation at a certain period of time. Therefore, it is not a micro variable. It is a macro variable since it includes the study of economics as a whole.
Detailed explanation-4: -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.