Basic Macroeconomic Concepts
Macroeconomics encompasses a variety of concepts and variables, but there are three central topics for macroeconomic research. Macroeconomic theories usually relate the phenomena of output, unemployment, and inflation. Outside of macroeconomic theory, these topics are also extremely important to all economic agents including workers, consumers, and producers.
Read more about this topic: Macroeconomic Policy
Famous quotes containing the words basic and/or concepts:
“Of course I lie to people. But I lie altruistically—for our mutual good. The lie is the basic building block of good manners. That may seem mildly shocking to a moralist—but then what isn’t?”
—Quentin Crisp (b. 1908)
“It is impossible to dissociate language from science or science from language, because every natural science always involves three things: the sequence of phenomena on which the science is based; the abstract concepts which call these phenomena to mind; and the words in which the concepts are expressed. To call forth a concept, a word is needed; to portray a phenomenon, a concept is needed. All three mirror one and the same reality.”
—Antoine Lavoisier (1743–1794)