Lenny D. answered • 05/14/19
Tutor
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Global Macroeconomic Expert
When we are looking at how an economy grows we look at the interactions of Technology,, Capital formation, Population and labor force growth, money supply and how they all interact. In Global macro we allow for a global interdependence where capital and labor may migrate in search of higher returns, and how what happens in other countries can affect our standard of living at home. A lot of the conclusions from closed economy models of development do not hold when there is global interdependence
