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    Microeconomic decision making focuses on individual consumers and firms, while macroeconomic decision making analyzes economies in aggregate and looks at factors like national income, unemployment, inflation, and economic growth. The document provides questions about distinguishing between micro and macroeconomics, defining macroeconomic variables, whether a single variable can indicate an economy's state, the usefulness of comparative static analysis, examples of stock macroeconomic variables, and the importance of accurate data for analysis. It also includes questions about financial years in the US and another country, as well as explaining Bhutan and China's per capita income rankings relative to India.

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    Microeconomic decision making focuses on individual consumers and firms, while macroeconomic decision making analyzes economies in aggregate and looks at factors like national income, unemployment, inflation, and economic growth. The document provides questions about distinguishing between micro and macroeconomics, defining macroeconomic variables, whether a single variable can indicate an economy's state, the usefulness of comparative static analysis, examples of stock macroeconomic variables, and the importance of accurate data for analysis. It also includes questions about financial years in the US and another country, as well as explaining Bhutan and China's per capita income rankings relative to India.

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    © All Rights Reserved
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    12 views1 page

    Unit 1 PQ

    Uploaded by

    PARVEEN
    Microeconomic decision making focuses on individual consumers and firms, while macroeconomic decision making analyzes economies in aggregate and looks at factors like national income, unemployment, inflation, and economic growth. The document provides questions about distinguishing between micro and macroeconomics, defining macroeconomic variables, whether a single variable can indicate an economy's state, the usefulness of comparative static analysis, examples of stock macroeconomic variables, and the importance of accurate data for analysis. It also includes questions about financial years in the US and another country, as well as explaining Bhutan and China's per capita income rankings relative to India.

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    © All Rights Reserved
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    Macroeconomic Management

    Trimester II PGDM (2022-24)

    UNIT 1

    Answer the following questions.

    1. Discuss the difference between micro-economic decision making and macro-economic


    decision making on the basis of differences in – scope and focus.
    2. What is meant by macro-economic variables?
    3. Should a single macro-economic variable be used for drawing conclusion about an
    economy? Justify with an example.
    4. What is the usefulness of comparative static analysis? Give an example.
    5. Write two stock (macro-economic) variables and give reasons why they fit into this
    category.
    6. Highlight the importance of data accuracy using an example.

    Explore answers to the following.

    1. What is the financial year in US?


    2. Name a country where the financial year coincides with the calendar year.
    3. Bhutan ranks below China while it ranks above India in terms of per capita income.
    Explain.

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