Macroeconomics and its relationship with the level of production, unemployment and inflation

The economy is a social science that is concerned with deciding how to distribute the available factors of production in order to generate the goods and services that society continually requires. The two great difficulties it faces are the following: how to distribute the factors of production optimally in conditions of scarcity and how to satisfy the economic needs that exceed the productive capacity of society. Economic science is subdivided into microeconomics and macroeconomics.

When we look for a simple definition of the macroeconomy, we generally find a consensus that defines it as the aggregate sum of everything that we collectively produce and consume; and, indeed, macroeconomics deals with this aggregate behavior of society.

1.Based on the above, examine the following expression and analyze it in your participation in the forum: Macroeconomics analyzes the growth in production, employment and income of a country in relation to the rate of aggregate spending of society and how it is affected by the particular problems of each year.

2.In your analysis for your main contribution, you must: a.Present in your words a broader definition of macroeconomics and its relationship to the level of production, unemployment, and inflation in a country. b.Integrate in your writing what we understand by main economic indicators, coincident economic indicators and lagging economic indicators, and their relationship with the expression presented. c.In your explanation of the relationship of the aforementioned indicators with the macroeconomy, present examples, such as the impact of a pandemic or an atmospheric phenomenon on the economy of a country.