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Macroeconomic management refers to the set of policies and strategies that…

- - - - The goods and services sold by one country to other countries in return for foreign currency are exports. The goods and services bought by a country from other countries are imports. Exports involve money coming into the country and imports involve money flowing out of the country.
      - If there are more imports than exports then there is more foreign currency flowing out than coming into a country. This is known as a balance of payments deficit, which can cause a shortage of foreign exchange. This means that the government of the country may have to borrow foreign currency from other countries at expensive rates of interest, which could also affect the exchange rate of the country.
  - - - Every government desires a low unemployment rate for their nation. A government desires that there be as many people employed as feasible so that:
        
        Unemployment benefits are not required to be paid for by the government.
        
        The amount of income tax collected by the government increases with employment levels.
        
        The nation's citizens can make money and enjoy higher standards of living.
        
        They boost economic growth and add to the nation's overall production.
  - - - People have a higher standard of living when inflation is low because they can afford to buy products and services. Additionally, they have the money to spend on luxury (non-essential) products. All economic sectors profit as it becomes simpler for businesses to launch new projects and grow.
      - However, if inflation rises, consumers can find it more feasible to purchase foreign items, which may be more affordable, rather than local goods. Local businesses in the nation may suffer as a result of having fewer sales.
  - - - The national economy's GDP A country's GDP reveals whether or not its economy is expanding. A rising GDP indicates that the nation has created more products and services than it did the year before. People will benefit if the GDP grows since their standard of living should rise. More business opportunities should be available as the economy expands.
      - However, a declining GDP is terrible for the economy, its businesses, and the people who work in it. For instance, it might result in decreased output, which would require fewer workers, and a general decline in people's quality of life as a result of their inability to afford as many goods and services.