comparison micro vs MACRO Flashcards
1
Q
Define macro
A
the branch of economics that studies the behaviors of the whole economy
2
Q
tools of macro
A
aggregate demand & aggregate supply
3
Q
scope
A
deals with various issues like:
national income
employment
distribution
4
Q
importance of macro
A
maintains stability in the general price levels
&
resolves the major problems of the economy as a whole like inflation.
5
Q
limitations of macro
A
what is true for aggregate may NOT be true for individuals too
