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JAMB Economics 1991 Question 4

Question 4

Basic Concepts

Macroeconomics is a study of economic science from the point of view of

  1. A.resource markets or production units
  2. B.individual producers or consumers
  3. C.aggregate or general economy
  4. D.companies or individual firms
Show the answer and explanation

Answer: C (aggregate or general economy)

Explanation

Macroeconomics studies the economy as a whole: national income, total employment, the general price level. Individual firms and consumers belong to microeconomics.