The Law Dictionary

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MACROECONOMICS Definition & Legal Meaning

Definition & Citations:

A subject of study. Macro is the behavior of entire, aggregated economies or economic systems. In contrast, Micro is the behavior of individuals, individual firms, or more local markets. National income forecasting, from analyzed major economic factors, show predictable patterns and trends influencing one another. Employment and unemployment levels, gross national product (GNP), payments position balance, and deflation or inflation prices all contribute as factors. Fiscal and monetary policies, economic growth, and consumption and investment levels all play a role in these factors.


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