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How much influence does a President have on macroeconomics?
How much influence does a President have on macroeconomics?
Expert Solution
Macroeconomics involves the study of how the limited resources are utilized by a whole economy in production of goods and services for consumption. Economies can be those of state or even the world. The overall decisions concerning the economic factors affecting the whole economy are made. The economic factors affecting the state include the total national earning, the rate of employment, inflation and deflation rates and the total worth of the goods and services produced in the state among others.
The president have less impact on macroeconomics. Although, citizens use the presidential economic record to vote, politics is not among the agents that ascertain the status of an economy. The business cycle, the demographic and economic factors among others determine the economic situation. Therefore, the president have no power over an economy but his actions may have effect on macroeconomics that will show up in the long run after many years.
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