Scope and Importance of Macro Economics

Macro economics is of theoretical and practical importance. They are:

1. To Understand the Working of the Economy:

The study of macro economics variables is indispensable for understanding of the working of the economy. Our main economic problems are related to the behaviour of total income, output, employment and the general price level in the economy. These variables are statistically measurable, thereby facilitating the possibilities of analyzing the effects on the functioning of the economy.

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