Macro economics is the study of aggregates. Comment.

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Solution

(a) Macro Economics deals with overall economic behaviour of the people in the economy.
(b) It deals with the study of economy as a whole so the scope of economics is wide.
(c) It studies in detail the behaviour of economic aggregates like national income, national output, total employment, total consumption, total savings, general price level etc.
(d) It assumes interdependence between economic aggregates and follows general equilibrium analysis.

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1) Macro-Economics is the study of aggregates.
2) Macro-Economics is also known as income and employment theory.
3) The scope of Macro-Economics is wide.
4) Macro-Economics deals with whole economy.
5) Macro-Economics is different from Micro-Economics.

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1) Macro-Economics is known as income analysis.
2) Increase in national income is a Micro- Economic goal.
3) Macro-Economic adopts lumping method.
4) Study of price determination is a subject matter of Macro-Economics.
5) Micro-Economics deals with the study of aggregates.
6) National output is an example of macro variable.

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Q. Give Reasons or explain the following statements.
Macro Economics is the study of aggregates.

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