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Explain fully the relationship between the definition of macroeconomics an output?
Wiki User
∙ 13y ago
Macro Economics is not considering only the out put without having any input.
Macroeconomics is that branch of Economics which study the overall economic system or entire economy or aggregate variables. Such as total or national income(for Afghanistan 13 bn $), total employment(15 mn), total or aggregate saving, aggregate supply and demand and general price(6%).
•Macroeconomics deals with aggregates of variables or quantities(total) and not with individual quantities, deals with national income and not with individual income, deals with general price level and not with individual prices, deals with national output and not with individual output'.
Wiki User
∙ 13y ago
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