Macroeconomics: Introduction · Class 12 · CBSE · Commerce Economics
Which statement best explains the scope of macroeconomics?
Practice question from Macroeconomics: Introduction (Class 12 · CBSE · Commerce Economics), with the correct answer and a step-by-step solution.
medium · MCQ · Q-38D712
Which statement best explains the scope of macroeconomics?
- A.It studies only the behaviour of individual consumers.
- B.It studies the behaviour and performance of the economy as a whole.Correct answer
- C.It studies only the accounting records of business firms.
- D.It studies only the exchange of goods in foreign markets.
Solution
Macroeconomics analyses economy-wide variables and their interrelationships, such as national income, aggregate output, employment, inflation and economic growth. It is not restricted to consumers, firms or foreign trade alone.
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