Macroeconomics

Introduction England is a country of 63.7 million people. Her economy is the largest economy of the four countries of the UK. UK has importance in textiles and chemical products, beside these the automobiles, locomotives and aircrafts are also the important industrial products. UNITED KINGDOM has the the 3rd in the Europe and 6th largest…

Explain the relationship of the long-run aggregate supply curve, the short-run aggregate supply curve and the aggregate demand curve in determining a long-run and short-run macroeconomic equilibrium. (10 marks) The curves represent two aggregate short run aggregate supply (SRAS) and long run aggregate supply (LRAS). Short run aggregate supply (SRAS) is price level of total…

Introduction Microeconomic is a person, household, firm, or industry as an economys units in this specific science of economic behavior. Contrast to macroeconomics, the study of the aggregate economy. Primarily concerned with factors affecting individual economic choices, factor changes effect on the individual decision makers, how their choices are synchronized by markets, and how prices and demand project in individual markets. Theory of demand, theory of…