1-1 What Macroeconomists Study Why have some countries experienced rapid growth in incomes over the past century while others stay mired in poverty? Why do some countries have high
Microeconomics Microeconomics(微观经济学) is the study of how individual households and firms make decisions and how they interact with one another in markets
Real GDP versus Money GDP (实际GDP和名义GDP) Money GDP/Nominal GDP(名义GDP) values the production of goods and services at current prices(以现价). Real GDP(实际GDP) values the production of goods and services at constant prices(以不变价格)
What is economics? Normative Definition Economics is the science that studies how to efficiently allocate economic resources Positive definition economics is the science that studies how an economy operates or how economic variables are