Macroeconomics Flashcards
1
Q
What does Macroeconomics study?
A
whole aggregate economies
2
Q
In the long run, what does Macroeconomics focus on?
A
Long run economic growth and development
3
Q
In the short run, what does Macroeconomics focus on?
A
business cycles like expansions and recessions. e.g the Great Depression.
4
Q
What are the three core variables of macroeconomics?
A
- GDP
- inflation rate
- Unemployment rate
5
Q
A
