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Questions and Answers
What is the main focus of macroeconomics?
What is the main focus of macroeconomics?
- The economy as a whole, including factors like inflation and unemployment (correct)
- The study of individual consumer behavior
- The analysis of microeconomic factors such as supply and demand
- The examination of international trade patterns
Which of the following is a macroeconomic indicator?
Which of the following is a macroeconomic indicator?
- Individual firm's production cost
- Consumer preferences for a particular brand
- Gross Domestic Product (GDP) (correct)
- Price elasticity of demand for a specific product
What is the primary goal of macroeconomic policy?
What is the primary goal of macroeconomic policy?
- To maximize profits for individual firms
- To regulate prices of essential goods and services
- To ensure fair competition in the market
- To promote stable economic growth and reduce unemployment (correct)
