Primary concerns in Macroeconomics Anaysis Assignment

Primary Concerns in Macroeconomics Analysis
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Primary Concerns in Macroeconomics Analysis
Macroeconomics deals with the whole economy. However, it has three major concerns, and they include:
* Output Growth
The economy of a country does not grow at an even rate as it is required. It experiences short-term ups and downs in its performance. These ups and downs are referred to as a business cycle. The economy is measured by its aggregate output, which is the total quantity of produced goods and services during a given period. When the economy produces less the aggregate output declines, and there are fewer goods and services available (Mankiw, 2014). This reduces the standards of living of the country and vice versa.
* Unemployment
Unemployment tends to occur when people are not able to find a job. Unemployment rate which is the percentage of the labor fo...