Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Macroeconomics and its relationship with the level of production, unemployment and inflation Instructions The economy is a social science that is concerned with deciding how

image text in transcribed
Macroeconomics and its relationship with the level of production, unemployment and inflation Instructions 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 continuously requires. The two great difficulties that 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 macroeconomics, we usually find a consensus that defines it as the aggregate sum of everything we collectively produce and consume; and indeed, macroeconomics is about this aggregate behavior of society. 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 by society and how it is affected by the particular problems of each year. In your analysis for your main contribution, you should: Present in your own words a broader definition of macroeconomics and its relationship with the level of production, unemployment and inflation in a country. 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. In your explanation of the relationship of the aforementioned indicators with macroeconomics, present examples, such as the impact of a pandemic or an atmospheric phenomenon on the economy of a country. Your initial post should be at least 4 paragraphs of 5 sentences each and your reaction to a partner should be at least 5 sentences. Check your contributions

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Environmental And Natural Resource Economics International Edition

Authors: Thomas H Tietenberg, Lynne Lewis

10th Edition

1292060794, 9781292060798

More Books

Students also viewed these Economics questions

Question

The background knowledge of the interpreter

Answered: 1 week ago

Question

How easy the information is to remember

Answered: 1 week ago