Question

Define macro economics

Answer 1

Macroeconomics deals with the topics that affect the state of the economy. For example, macroeconomics deals with topics like unemployment, inflation, money supply, investment level, etc. The science of macroeconomics is important as macroeconomic tools allows us to analyze issues like the prevalence of poverty in some countries while economic prosperity in others, causes of economic recessions and depressions, stable price level in some countries while high inflation exists in others. So, not only does macroeconomics shed light on the economic condition of a country it also provides an explanation for inter-country disparities with regard to economic growth, inflation, unemployment, etc.