Economics ATAR

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4 Terms

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What is macroeconomics?

The study of the economy as a whole.

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What key topics does macroeconomics cover?

Inflation, unemployment, economic growth, and the business cycle.

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What question does macroeconomics answer regarding consumer behavior?

Why consumers usually buy more goods and services when the prices are low.

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Examples of Macroeconomic Events

COVID-19, Global Financial Crisis.