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Macroeconomics can be described as the study of the economy on a large scale. It examines how the economy in its entirety operates and what factors affect the marketplace. Processes that are studied in macroeconomics include inflation, pricing, growth, recession and the impact of government regulation.

Macroeconomics have statistics that can be used to understand the economy at large. Economists can study per capita income, gross domestic product, human development index, and unemployment, to name just a few examples.

Utilizing the statistics that have been mentioned, macro economists are interested in the development of models that can explain relationships from a number of different factors. For instance, how do consumption habits and preferences affect unemployment? What effect does unemployment have on demand for certain goods? Macro-economists attempt to answer these questions so governments and private companies can make better decisions.

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