Подчеркните модальные глаголы и их эквиваленты there is no way that economics can be used to show that one of these normative judgements is correct and the other is wrong. it all depends on the preferences or priorities of the individual or the society that has to make this choice. but that does not mean that economics can throw no light on normative issues. macroeconomics. the overall picture macroeconomics is the study of the economy as a whole. macroeconomics is concerned not with the details - the price of cigarettes relative to the price of bread, or the output of cars relative to the output of steel - but with the overall picture. we shall study issues such as the determination of total output of the economy, the aggregate level of unemployment, and the rate of inflation or growth of prices of goods and services as a whole. the distinction between microeconomics and macroeconomics is more than difference between economics in the small and economics in the large, which the greek prefixes micro- and macro- suggest. the purpose of the analysis is also different. a model is a deliberate simplification to enable us to pick out the key elements of a problem and think about them clearly. although we could study the whole economy by piecing together our microeconomic analysis of each and every market, the resulting model would be so cumbersome that it would be hard to keep track of all the economic forces at work. microeconomics and macroeconomics take different approaches to keep the analysis manageable. microeconomics places the emphasis on a detailed understanding of particular markets. to achieve this amount of detail or magnification, many of the interactions with other markets are suppressed. in saying that a tax on cars reduces the equilibrium quantity of cars we ignore the question of what the government does with the tax revenue. if the government has to borrow less money, it is possible that interest rates and exchange rate will fall and that improved international competitiveness of uk car producers will actually increase the equilibrium output of cars in the uk. microeconomics is a bit like looking at a horse race through a pair of binoculars. it is great for details, but sometimes we get a clearer picture of the whole race by using the naked eye. because macroeconomics is concerned primarily with the interaction of different parts of the economy, it relies on a different simplification to keep the analysis manageable. macroeconomics simplifies the building blocks in order to focus on how they fit together and influence one another.

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