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Standard XII
Economics
Wealth of an Economy
Macroeconomic...
Question
Macroeconomics follows ______ equilibrium.
A
partial
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B
semi partial
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C
decentralised
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D
general
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Solution
The correct option is
D
general
Macroeconomics studies the economy as a whole and not individual units.
Thus macroeconomics follows the General equilibrium analysis while microeconomics follows the Partial equilibrium analysis.
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