Question

I have the answer in my head but to write it out I am at a loss: how would I explain to the Russian government official Macroeconomics Who is in charge of bread distribution?

Answer 1

macroeconomics can best be described as an overall view of the economy where the economy as a whole is analyzed. It is not the profitability or the functionalities of a particular firm which is measured here but the industries of the nation as a whole. macroeconomics thus exhibits key indicators such as the unemployment rate, the inflation rate and also the GDP/capita and so these act as indicators of how the national economy is doing. macroeconomics thus gives statistics of the nation as a whole and not individual businesses. That is the basic gist of what macroeconomics is.