What is Macroeconomics?
Macroeconomics is the study of aggregate behaviour of the economy. The main macroeconomic variables include output, employment, inflation, interest rates and exchange rates. These variables play a vital role in determining government policies.
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Related Economics A Level answers
All answers ▸Explain using a diagram the price/output of a firm competing in a perfectly competitive market during the long run. Is this equilibrium point beneficial?
The price of coffee beans rose from $1.15 to $1.40 between June and August 2017. A possible cause of this rise is: a) Improved weather conditions in coffee-growing countries; b) An increase in national minimum wage in coffee growing countries.
What two policies can the government employ to influence economic growth and inflation?
Comment on whether higher government spending will always increase inflation (6)