Briefly explain how it differs from microeconomics

Reference no: EM13692559

First present a brief definition of macroeconomics and also briefly explain how it differs from microeconomics. Next, define the concept of an economic model and also differentiate between an exogenous variable as opposed to an endogenous variable in an economic model. Finally, define the concept of a market clearing model and also define the notion of flexible versus sticky prices in a market clearing model.

Reference no: EM13692559

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