Question

Use what you have learned about macroeconomics to explain why the study of macroeconomics is important to daily life. What can people gain from understanding how economies work on the national or international level?

Answer 1

Studying macroeconomics can help individuals understand how interactions between regions, governments, and institutions influence their lives. By studying macroeconomics, individuals can predict and deal with economic challenges, such as inflation and unemployment.

Answer 2

Studying macroeconomics is important because we can learn how the economy of the country is doing. Also microeconomics studies the inflation, factors of unemployment, national income and variation of prices in the market. Macroeconomics focuses on companies and the decisions of people.