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3 Cards in this Set
- Front
- Back
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Macroeconomics |
Macroeconomics is the branch of economics that studies the behaviors and performances of an economy as a whole. It focuses on the aggregate change in the economy such as unemployment, growth rate, gross domestic product and inflation. |
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Microeconomics |
Microeconomics is the branch of economics that studies the behaviors of individuals and firms in making decisions regarding the allocation of scare resources and interactions among these individuals and firms. |
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Business cycle |
Business cycle are the rise and fall in the production of goods and services in an economic. The stages in business cycle include expansion, peak, contract and trough. |
