Description: This book examines the economy as a whole. It covers national aggregates like income, employment, and prices, and discusses how government policy can influence the overall economic health of a country.
Key Concepts:
National Income Accounting: Methods of calculating GDP and understanding macroeconomic identities.
Money and Banking: The function of money, the role of the Central Bank (RBI), and money creation.
Government Budget: Components of the budget and its impact on the economy.
Open Economy: Balance of payments and foreign exchange rates.
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