How does the focus of macroeconomics differ from that of microeconomics when it comes to income,...

How does the focus of macroeconomics differ from that of microeconomics when it comes to income, output, employment, and prices?

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Expert Solution

Microeconomics	Macroeconomics
Deals with income of an individual consumer or producer	Deals with income of all the consumers and producers.
Output by a single firm or group of firms on a smaller level is taken into account	Output of all the producers are taken into account
Dealts with the employment of a person	Deals with the employment level of the country
Price of the entity taken into account is considered	The price level of the entire economy is considered.

Rahul Sunny answered 1 year ago

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