Macroeconomics

It is the study of a nation's or of the larger economy.

__________ us an economic model illustrating the flow of goods & services among economic agents.

• circular flow diagram

• diagram of a circular ecnomy

• economic circular diagram

• simple economic diagram

• CFD of a Macroeconomy

Participants that interact in the economy

What are the economic agents in a simple economy?

• Households

• Firms

• The Government

• Foreign Trade

• Aliens

What are the economic agents in a closed economy?

• Households

• Firms

• The Government

• Foreign Trade

• Aliens

What are the economic agents in a open economy?

• Households

• Firms

• The Government

• Foreign Trade

• Aliens

Illustrate a circular flow diagram of an open economy