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Macroeconomics chapter 1 quiz for university students. Find other quizzes for education and more on quizizz for free! Study with quizlet and memorize flashcards containing terms like economics is the study of, macroeconomics focuses on, the production possibilities curve bows outward from the origin. The aim of the study of macroeconomics is to examine the behavior of factors affecting the economy. This is a graph showing price and total output in the short and long run.