Continuation
It also studies effects of:
o monetary policy;
o and fiscal policy.
Since at least the 1960s, macroeconomics has been
characterized by further integration as to micro-based modeling of sectors,
including:
ü rationality of
players;
ü efficient use of
market information;
ü and imperfect
competition.
This has addressed a long-standing concern about inconsistent
developments of the same subject.
Macroeconomic analysis also considers factors affecting the:
§ long-term level;
§ and long-term
growth
of national income.
Used from paper of Abdul Ghafar
Ismail and Noraziah Che Arshad
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