CLEP Macroeconomics covers the principles of macroeconomic theory, including national income, inflation, and fiscal policy.
Globalization means countries are linked through trade, investment, and finance. Macroeconomic events in one country can ripple across the globe.
Countries export goods and services to other nations and import what they need. This allows each country to specialize in what it does best.
The value of one currency compared to another affects trade and investment decisions.
A financial crisis in one country can impact economies worldwide. Understanding globalization helps us see how local choices can have global consequences.
A recession in Europe can reduce demand for American goods, affecting U.S. jobs.
A strong U.S. dollar makes imported goods cheaper but can hurt American exporters.