DEFINITION OF MACROECONOMICS
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DEFINITION OF MACROECONOMICS
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Definition of Macroeconomics
Macroeconomics is essentially the study of the performance and the behaviour of the economy as
whole.
Nevertheless, some economists have attempted to define macroeconomics according to their own
perception of its subject matter:
Gardner Ackley: “Macroeconomics is the study of forces or factors that determine the levels of
aggregate production, employment and prices in the economy, and their rate of change over time”
Kenneth E Boulding: “Macroecono...
Summary
DEFINITION OF MACROECONOMICS
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Definition of Macroeconomics Macroeconomics is essentially the study of the performance and the behaviour of the economy as whole. Nevertheless, some economists have attempted to define macroeconomics according to their own perception of its subject matter: Gardner Ackley: “Macroeconomics is the study of forces or factors that determine the levels of aggregate production, employment and prices in the economy, and their rate of change over time” Kenneth E Boulding: “Macroecono...
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