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on November 01, 2010

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Question 1: Write down the importance of macroeconomics. Ans.: The study of macroeconomic variables is indispensable for understanding the working of the economy. Our main economic problems are related to the behavior of total income, output, employment and the general price level in the economy. The variables are statistically measurable thereby facilitating the possibilities of analyzing the effects on the functioning of the economy. It gives a bird eye view of the economic world. 1. Explaining the factors ...

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