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Macroeconomics (Greek macro, ‘large’ + economics) is the study of what causes the general level of economic activity in a country\'s economy to be what it is. It is the study of such aggregates as gross national product (GNP), employment and price levels to understand why there are periods of inflation, of prosperity and depression, of full employment and unemployment. Macro issues usually involve government fiscal policy and monetary control. However, as many economists have pointed out, such aggregates grow from micro roots: a proper understanding of unemployment and inflation requires studying labour markets as well as monetary and fiscal policies. TF
See also microeconomics.Further reading Kevin Hoover, The Classical Macroeconomics; , Richard C. Lipsey, An Introduction to Positive Economics. |
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