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Macroeconomics is the branch of economics that studies: A
Macroeconomics is the branch of economics that studies:
A. prices of individual goods.
B. important, as opposed to trivial, issues.
C. the way individual markets work.
D. the economy as a whole.
Expert Solution
- Macroeconomics is the branch of economics that studies D. the economy as a whole.
Indeed, the definition of macroeconomics basically states that this field of analysis is focused on those phenomena that concern the functioning of the economy as a whole. For example, some of the topics macroeconomics deals with are general market equilibrium analysis, aggregate demand and supply, issues concerning the national government economic policy, inflation, etc.
- Explanation why other options are incorrect
A) cannot be true since the prices of individual goods are analyzed by microeconomics, not macroeconomics.
B) cannot be true since not only macroeconomics but all the branches of economic theory deal with important and non-trivial issues.
C) cannot be true since, again, this analysis is carried out by microeconomics, not macroeconomics.
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