Question

Answer the following questions.
Explain the features of Macro Economics.

Answer 1

Features of macroeconomics are:

• It is the study of aggregates as it studies the economy as a whole. It focuses on issues such as national income, general price level, etc.
• It gives an overall view of the economy as it represents the connection between various variables.
• It is policy oriented in the sense that it is highly useful in the formulation and implementation of the various economic policies of the government.
• It is also called the income and employment theory as it helps in determination of income and employment levels that prevails in the country.