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.

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