Thirdly, while macroeconomics is utilized as an analytical tool to create fiscal and economic policies, investors use microeconomics to make investment decisions. In terms of areas of concern for each branch of economics, microeconomics examines areas like demand, supply, equilibrium, production theory, costs of production, and labor economics (Fine, 2016). On the other hand, macroeconomics looks at investment expenditure, capitalist nation, revenue, national income, and aggregate demand (Goodwin et al., 2018). More significantly, while macroeconomic rules emanate from empirical studies, microeconomics rules begin from a set of compatible theorems and laws.
Respond to each classmate 100 words or more This this the question they had to answer. Explain the difference between macroeconomics and microeconomics. Give examples of the areas of concern for each
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