National Income includes the study of concepts of national income product and expenditure and the methods of measurement of aggregates and subaggregates of national income Employment is concerned with the determination of the level of employment in the whole system and variations in it ID: 1029264
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1. Scope of Macro EconomicsNational Income includes the study of concepts of national income, product and expenditure and the methods of measurement of aggregates and sub-aggregates of national income.
2. Employment is concerned with the determination of the level of employment in the whole system and variations in it.
3. Monetary theory deals with the demand for money, supply of money, central banking, commercial banking, monetary policy and the impact of monetary changes upon the general level of economic activity.
4. General price level is the average of all prices or the general level of prices. It explains the forces that cause inflationary or deflationary movements in the system and the way these movements affect the operations of the economic system.
5. Business cycles are alternate phases of business expansion and contraction. The theories of business cycle and policies to control cyclical fluctuations come within the sphere of macro economics.
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