Question

What is macroeconomics?


a commitment to the value of work and purposeful activity


the concept that everyone can compete in the marketplace


the study of the behavior and decision making of entire economies


the study of the economic behavior and decision making of small units, such as individuals, families, and businesses

Answer 1

Macroeconomics is best defined as **the study of the behavior and decision making of entire economies**. It focuses on aggregate variables and phenomena, such as national income, total employment, inflation, and overall economic growth, rather than individual economic units.