Macroeconomics is the study ofwhile microeconomics studiesthe overall economic activity and prices; an individual firm, household, or marketan individual firm; the overall economic performance of a nationconsumer choices; government behaviorthe overall economic performance of the world; the economy of a single countryfirm choices; market behavior

Answered: Macroeconomics is the study of while…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Macroeconomics is the study of
while microeconomics studies
the overall economic activity and prices; an individual firm, household, or market
an individual firm; the overall economic performance of a nation
consumer choices; government behavior
the overall economic performance of the world; the economy of a single country
firm choices; market behavior

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Step 1

Macroeconomics deals studying the economic performance of the economy as a whole. It takes into account aggregate economy. It deals with finding solutions to problems like how to stabilize economic growth and how to raise the standard of living.

Microeconomics deals with studying the individual firms and companies. Individual income, price level, output level are the areas covered under Microeconomies.

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