A study of economics in terms of whole systems especially with
reference to general levels of output and income and to the
interrelations among sectors of the economy is called macroeconomics.
Macroeconomics is concerned with the behavior of the economy as a
whole—with booms and recessions, the economy’s total output of goods
and services and the growth of output, the rates of inflation and
unemployment, the balance of payments, and exchange rates.
Macroeconomics deals with the increase in output and employment over
long period of time—that is economic growth—and with the short-run
fluctuations that constitutes the business cycle. Macroeconomics
focuses on the economic behavior and policies that effect consumption
and investment, trade balance, the determinants of changes in wages
and prices, monetary and fiscal policies, the money stock, the federal
budget, interest rates, and national debt. In brief, macroeconomics
deals with the major economic issues and problems of the day.
In this software of running the British economy we will observe
different outcomes in the British Economy by changing these four
variables. They are
1. Government Expenditure
2. Tax Rate
3. Value Added Tax (VAT)
4. Monetary Cash Flow
Through this assignment I have given a chance to run the British
Economy for five years. In order to understand this assignment we
first have to understand what these above four variables are?
It covers what so ever government spends in purchasing goods and
services in order to perform their factions properly. This includes
spending on such items such as defense e...
... middle of paper ...
...es, which are 6.79. And by this all economy get a boast. People
started getting better off and government got success keeping the
interest of investor in economy. Balance to payment went down to 5,
which is not bad.
1. Diulio, Eugene A. Theory and Problems of Macroeconomic Theory.
London. McGraw-Hill Publishing Company. 1974.
2. Fischer, Stanley. Dornubusch, Rudiger. Macroeconomics. USA.
McGraw-Hill Publishing Company. 1990.
3. Glahe, Fred R. Macroeconomics Theory and Practice. USA. Harcourt
Brace Jovanovich Inc. 1992.
Accesses on: 15/12/2004
Accessed on: 15/12/2004
Accessed on: 16/12/2004
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