The correct answer is Both I and II. Explanation & Key Takeaways: • Macroeconomics is a branch of economics that deals with the structure, performance, and behaviour of the overall economy. • It focuses on areas like inflation, economic growth rate, price levels of various goods and services, gross domestic product (GDP), national income and the unemployment rate in a particular country. • The study of macroeconomics is essential to understand the economic performance of a nation and the factors that affect it. Important Notes: • Macroeconomics deals with the following studies: • Reasons behind the unemployment of resources: • Macroeconomics focuses on understanding and analyzing the factors that contribute to unemployment on a broader scale. • It examines the causes and consequences of unemployment, such as changes in aggregate demand, labour market conditions, technological advancements, and government policies that affect employment levels. • Determination of total output: • Macroeconomics is concerned with studying and explaining the determinants of a country's total output or national income. • It analyzes the factors that influence aggregate production and economic growth, including consumption, investment, government spending, and net exports. • Macroeconomists investigate the relationship between these variables and their impact on overall economic performance. Related Concepts: • John Maynard Keynes is known as the founding father of Macroeconomics as a separate discipline. • He was born on June 5, 1883, in Cambridge. • He completed his degree in Mathematics and also joined Civil Services in Britain. • He represented the British Treasury at the Conference of Versailles. • He expressed his concerns about the fine imposed on Germany in his book 'The Economic Consequences of Peace'.