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Difference between macroeconomics and microeconomics

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Reference no: EM133102486

  1. Explain the difference between macroeconomics and microeconomics.
  2. Why is GDP used as a measure of economic strength?
  3. Explain three major economic indicators used to measure the strength of the U. S. economy.
  4. Explain each phase of the business cycle.
  5. Compare and contrast the various types of economic systems.
  6. Evaluate the various types of competition in the marketplace.
  7. Discuss the differences between the Keynesian and Monetarism schools of economic thought.
  8. What is the difference between monetary policy and fiscal policy?
  9. What is the purpose of the Federal Reserve System?
  10. Explain what caused the Great Recession of 2008 and new legislation that resulted from it.

Reference no: EM133102486

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