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Which part of...

Question

Which part of economics is also called Theory of Income and Employment?

A

Macroeconomics

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B

Microeconomics

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C

Wealth economics

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D

Monetary economics

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Solution

The correct option is A
Macroeconomics

Macro economics deals with the study of economics as a whole and the study of collective or aggregate variables like national income and how they influence the whole economy. Theory of income and employment explains how aggregate demand and supply decide the level of income and employment in an economy as a whole. Thus, it is a part of macro economics.

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Similar questions

Q. Give Reasons or explain the following statements.
Macro Economics is also known as income and employment theory.

Q. Fill in the blanks with appropriate alternatives given in the brackets.

1) The terms Micro and Macro Economics were first used by _______________. (Adam Smith/ Robbins/ Ragner Frisch/ Marshall).

2) Micro Economics is a study of _________. (Whole economy/ general price level/ National output/ Individual economic unit).

3) Micro Economics is also called as ________________. (Income theory/ Price theory/ Growth theory/ Employment theory)

4) Micro Economic analysis adopts __________________ method. (lumping/ aggregative/ Slicing/ inclusive)

5) Micro Economics is a __________________________ equilibrium approach. (partial/ general/ total/ multi-variable).

Q. Give reasons or explain the following statements

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.

Q. Give Reasons.
Macro Economics is known as Income Theory.

Q. Do you agree with following statements? Give reasons.
Micro economics is known as Income Theory.

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