Why is macroeconomics called the income theory?

Economics Dec 14, 2020

Expert Solution

Macroeconomics is the study of the economy in its entirety. It studies the aggregates and total values that are useful in deriving conclusions about the economic status of the economy.

Macroeconomics is called the theory of income as it is a major macroeconomic variable and the study revolves around the need to determine the level of income as well as employment.

Archived Solution

Unlocked Solution

You have full access to this solution. To save a copy with all formatting and attachments, use the button below.

Already a member? Sign In

Important Note: This solution is from our archive and has been purchased by others. Submitting it as-is may trigger plagiarism detection. Use it for reference only.

For ready-to-submit work, please order a fresh solution below.

Or get 100% fresh solution

Get Custom Quote