What is an example of macroeconomics?
As opposed to microeconomics, macroeconomics is concerned with the economy of nations. For instance, here are some factors of economics that are considered components of macroeconomics:
- GDP (Gross Domestic Product)
- Trade between two countries
- Unemployment levels
The big takeaway is that macroeconomics is the study of behavior of the economies of entire nations, and takes into account things that apply universally to that nation.