Chapter One: Module Summary -- Overview of the U.S. Economy
- Macroeconomics is the study of the nature of and consequences of
the business cycle. It deals with the aggregate economy and issues
concerning inflation, unemployment, and economic growth.
- The macroeconomy has profound and far-reaching consequences on our
lives. This book examines the impacts of business cycles, and explores how
various fiscal and monetary policies can ease the volatility of those cycles.