Much of macroeconomics attempts to explain
A)changes in the price of oil and gasoline.
B)long-run growth and short-run fluctuations in real GDP.
C)changes in the growth rate of state government spending.
D)changes in the prices and quantities of individual goods and services.

Question

Quizplus · Accepted Answer

Macroeconomics focuses on the study of the entire economy, including long-run economic growth and short-run fluctuations in real GDP. This field of economics aims to explain factors such as inflation, unemployment, and economic growth, which are not specific to individual goods or services, but rather affect the economy as a whole. Options A and C may be relevant in certain contexts, but they are not the main focus of macroeconomics. Option D is more closely related to microeconomics, which focuses on the behavior of individual consumers and firms in specific markets.

Much of Macroeconomics Attempts to Explain