1)What are the three most important concepts in macroeconomics?

2)What is the difference between real calculation and nominal calculation in macroeconomics?

3)What have been the main macroeconomics for growth in entrepreneurship?

4)How can you explain the perspective of macroeconomy? Is there always an opportunity cost for your time?

1)

The three most important concepts in macroeconomics are:

1. Unemployment. It refers to a situation when individuals who are able and willing to work cannot find work. In economics, the unemployment rate is the percentage of individuals who do not have jobs. The unemployment rate is the key indicator of the economy's health because it shows that the aggregate labor market is not in equilibrium.
2. Inflation. It refers to a persistent rise in the general price level. An excessive rate of inflation can have a number of adverse effects on the economy. Inflation occurs when the economy grows quickly. Macroeconomics dictate some measure which governments can take to reduce inflation.
3. Gross Domestic Product (GDP). The GDP is the total monetary value of final goods and services produced within the geographical boundaries of a country. Economic growth leads to an increase in the goods and services available in a country. By measuring the GDP, economists can follow the market's swings and changes at any given time.

2)Macroeconomics involves the study of how the limited resources are utilized by a whole economy in production of goods and services for consumption. Economies can be those of state or even the world. The overall decisions concerning the economic factors affecting the whole economy are made. The economic factors affecting the state include the total national earning, the rate of employment, inflation and deflation rates and the total worth of the goods and services produced in the state among others.

The following are the differences between real and nominal calculations in macroeconomics:

1. Real calculations are based on the value of the goods and services while nominal calculations are based on the monetary value.

2. Real calculations are adjusted to accommodate the effect by the factors of inflation while nominal calculations are not adjusted.

3. The real value remain unchanged while the nominal value depends on the current price of the asset at the time of calculation.

3)The main Macroeconomics for growth in entrepreneurship include:

• Market

The market plays a critical role in the growth of entrepreneurship. In the current society, every entrepreneur needs to understand the dynamics of the market and the most significant working techniques. The size and condition of the market condition determine in a great deal the success of a business. Macroeconomics has helped entrepreneurs understand the market and marketing skills.

• Capital

For an entrepreneur to establish a business, they need to have capital. Macroeconomics has helped people in business understand that the more capital one invests in a sustainable business, the more the output. The availability of capital enables an entrepreneur to source capital from different individuals, machines, land, and raw material from various sources to start an enterprise.

• Demand

Without demand, there would be no need to supply. Entrepreneurs first study the market patterns and come up with enterprises that produce products and services that the population needs. Demand, too, has led to entrepreneurship growth.

4)

Macroeconomic is the part of economics that deals with the behavior, structure, and performance of an economy as a whole. It is the broad field to study the behavior of an economy; accordingly, the government makes the decision about what policy should take.

There are two main perspectives of macroeconomic; Keynesian perspective and neoclassical perspective.

Keynesian perspective: Keynesian theory is an economic theory which is a group of various economic theory. This theory is based on the concept to grow and be stable, and active government intervention is required. It shows the effect on output and inflation. It shows how economic output strongly influenced by aggregate demand also aggregate demand does not always equal to the productive capacity of the economy. According to him, aggregate demand influences the factors of production, employment, and inflation in the short run.

Neoclassical economics dominates Keynesian economics. It is an economic theory that focuses on the determination of good, that is, outputs, income distribution in the market through demand and supply. It has few assumptions; people are rational in nature, firms maximize profit, and individuals maximize utility; people have full information. He explains that both customer and producers want to maximize their economic interest, the customer ultimately in control of market forces, that is, price and output. There will be no intervention by the government.

The opportunity cost of time represents the cost of forgiving a few times to get the best use of the time which will take place. For example an air flight, you have to forgo your one hour for the coming two hours approximately; otherwise, your plane will miss.

No there is not always an opportunity for the time as sometimes one is utilizing their time effectively in that work which is most precious for him.