State whether the following statements are True or False with reasons:
There is no difference between the macro and micro economics.
False, there is a major difference between the macro and micro economics.
Micro economics deals with individual units whereas macro economics deals with whole or aggregate units of an economy. Where micro economics studies the behaviour of individuals and single units such as individual price, consumer equilibrium, etc., macro economics, on the other hand studies the behaviour of macro variables such as income and employment, inflation, growth, GDP, etc.
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- Difference Between Mirco Economic and Macro Economic