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 rates of inflation while others maintain stable
prices? Why do all countries experience recessions and depressions—recurrent
periods of falling incomes and rising unemployment—and how can government
policy reduce the frequency and severity of these episodes? Macroeconomics,
the study of the economy as a whole, attempts to answer these and many related
questions