OMTEX CLASSES: Macro Economic is also known as income and employment theory.

Macro Economic is also known as income and employment theory.

Macro-Economics is known as Theory of Income and Employment, because it explains the forces which determine the level of national incomes and employment in an economy and analyses the causes of fluctuations in them. Further, it also explains the determinants, which will bring about increase in national income, output and employment over a long period.