Association of Chartered Certified Accountants (ACCA) Certification Practice Test

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What does macroeconomics study?

Individual economic behavior
The behavior of specific sectors in the economy
The overall functioning of a national economy
Consumer purchasing habits

The correct answer is: The overall functioning of a national economy

Macroeconomics focuses on the overall functioning and performance of a national economy rather than the individual components. It studies aggregate indicators such as GDP, unemployment rates, national income, and inflation, and how these elements interact within the economy as a whole. By analyzing the economy at this macro level, economists can understand patterns and trends and formulate policies that impact economic growth and stability. This distinguishes it from microeconomics, which examines the behavior of individual households and firms or specific sectors within the economy. Understanding these broader economic dynamics is essential for policymakers, investors, and businesses looking to navigate the economic landscape effectively.