Question

Study of economic aggregates is known as ______.

Options

• Macroeconomics

• Microeconomics

• Price theory

• Factor price determination

Answer 1

Study of economic aggregates is known as macroeconomics.

Explanation:

Macroeconomics is the branch of economics that studies the economy as a whole. It focuses on economic aggregates such as total national income, aggregate demand, aggregate supply, total employment, and the general price level. In contrast, microeconomics deals with individual economic units like consumers and firms. Thus, macroeconomics examines broad aggregate indicators to understand the overall economic performance and structure.