Meaning:
Macroeconomics is the branch of economics which deals with economy as a whole.It examines how resources are allocated at the level of economic system as a whole.
Scope and Types:
- 1. Theory of national income
- 2. Theory of employment
- 3. Theory of money
- 4. Theory of general price level
- 5. Theory of economic growth
- 6. Theory of international trade
Goals and Importance
- 1. Helpful to understand the working of the economy
- 2. Helpful in formulating economic policies
- 3. Helpful in controlling economic fluctuations
- 4. Helpful in international comparisons
- 5. Evaluate performance of the economy
- 6. To develop and expand the microeconomics
- 7. Helpful to understand international trade
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