Macroeconomics. the study of the overall aspects and workings of an economy- inflation, growth, employment, interest rates, and the productivity of the economy as a whole. Scarcity.

Macroeconomics is the study of whole economies–the part of economics concerned with large-scale or general economic factors and how they interact in economies.

Macroeconomics studies economy-wide phenomena such as inflation, price levels, rate of economic growth, national income, gross domestic product (GDP), and changes in unemployment.

Macroeconomics is the study of the economy as a whole. Macroeconomics is the bigger picture, why economies grow and why economic activity changes over time. It is also concerned with unemployment, inflation, economic growth and government economic policies.

Business cycle. a cycle or series of cycles of economic expansion and contraction. Expansion. An economic expansion is an increase in the level of economic activity, and of the goods and services available. It is a period of economic growth as measured by a rise in real GDP.

The business cycle is the periodic but irregular up-and-down movements in economic activity, measured by fluctuations in real GDP and other macroeconomic variables. the business cycle is characterized by four phases – what are they?

the peak, followed by a recession, leading to the trough or bottom of the cycle, finally followed by a recovery or an expansion to another peak. in the business cycle usually means the economy is operating at its capacity.

why does the government track and seek to influence business cycles? to promote economic growth and stability. how does the government allocate and mange some resources by managing externalities? determining which one is positive or negative to produce goods and services that generates benefit or costs to someone.

Why does the U.S. government track and influence business cycles? The U.S. government acts in self interest when tracking an influencing business cycle so they can make more money.

As a consumer I can influence economy is different ways. In addition it can help producers to make same but better product, when they see that consumers on the market like it. It also sends the signal to other producers that their product is not as good as competitors.

To maintain a strong economy, the federal government seeks to accomplish three policy goals: stable prices, full employment, and economic growth.

The ultimate goal of the economy is defined as maximization of individual income or financial wealth. In the reality of the twenty-first century the working of the economy is far more complex. Economic actors represent diverse types and the monetized transactions are only one from of the interactions among them.

An equity-efficiency tradeoff results when maximizing the efficiency of an economy leads to a reduction in its equity—as in how equitably its wealth or income is distributed.

Describe the seven major goals of the United States economy. They are: economic freedom, efficiency, equity, security, full employment, price stability, and growth.

Command economy advantages include low levels of inequality and unemployment, and the common good replacing profit as the primary incentive of production. Command economy disadvantages include lack of competition and lack of efficiency.