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Macroeconomics mainly focuses upon a

Economics Dec 14, 2020

Macroeconomics mainly focuses upon

a. the economy as a whole.

b. international trade and foreign exchange markets.

c. specific product and resource markets.

d. individual consumers and producers.

Expert Solution

Macroeconomics mainly focuses upon a. the economy as a whole.

An economy talks about a country. Therefore, macroeconomics is the study of scarcity from the perspective of a whole nation. Macroeconomics tells us about the aggregate demand and the aggregate supply. It determines the economic growth over the years and how gross domestic product differs among countries. In addition, macroeconomics also deals with the effect of government intervention and how Fed controls the money supply. Microeconomics talks about specific product and individual consumers producers. International trade and foreign exchange markets can be either in microeconomics or in macroeconomics.

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