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FAQs on Class 12 Economics Question Paper Solved (2023) - 14 - Economics Class 12 - Commerce

1. What are the main objectives of macroeconomics?
Ans. Macroeconomics aims to study the behavior of the economy as a whole, focusing on aspects such as economic growth, unemployment, inflation, and national income.
2. How does macroeconomics differ from microeconomics?
Ans. Microeconomics deals with individual economic units like households and firms, while macroeconomics studies the economy as a whole, including factors like aggregate demand and supply.
3. What is the significance of studying macroeconomics in today's globalized world?
Ans. Understanding macroeconomics is crucial for policymakers to formulate effective economic policies, especially in a globalized world where economies are interconnected and impact each other.
4. How does macroeconomics help in analyzing and predicting economic trends?
Ans. By studying macroeconomic indicators like GDP, inflation rates, and unemployment levels, economists can analyze past trends and make predictions about future economic conditions.
5. How does government intervention play a role in macroeconomics?
Ans. Governments use macroeconomic policies like fiscal and monetary policies to stabilize the economy, promote growth, and control inflation and unemployment levels.
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