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ARE 302 Intermediate Macroeconomics Notes

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Summary

This document describes the various various of macroeconomic theory and how they interact to achieve the state of the economy.

Brief Overview:

1. Question: how does microeconomics differ from macroeconomics?
Microeconomics theory:
- Investigates how individuals in society choose to allocate scarce income or resources among competing wants or production objectives.
- It also studies factors affecting the relative prices of different goods and factors of production in individual market (e.g. the supply and demand for milk or motor vehicle).
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