Economic theory is a box of tools with which an economist constructs economic models that facilitate the study of the real world
Economic models are simplified explanations of how the economy works
Macroeconomic models are simplified explanations or theories how the economy works
Macroeconomics is a branch of economics that attempts to analyze and explain the interrelationships between aggregate values such as output, employment and interest rates in the economy
Dana05 answered the question on July 18, 2019 at 19:38
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