The macroeconomy 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 continuously requires. The two great difficulties it faces are the following: how to distribute the factors of production optimally under conditions of scarcity and how to satisfy 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 deals with this aggregate behavior of society.

Macroeconomics analyzes the growth in production, employment and income of a country in relation to the rhythm of the aggregate expenditure of the society and how it is affected by the particular problems of each year.

1. Broader definition of the macroeconomy and its relationship with the level of production, unemployment and inflation of a country.
2. What is understood by main economic indicators, coincident economic indicators and lagging economic indicators, and their relationship with the expression presented?
3. 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.