Option 1 -> Studies economy-wide phenomena like total output, employment, and price levels.
Option 2 -> Studies individual economic units like consumers, firms, and specific markets.
Option 3 -> Deals with objective analysis and facts about what is, without value judgments.
Option 4 -> Deals with value judgments and opinions about what ought to be in economics.
Hence, Macro Economics -> Macroeconomics is the branch of economics that examines the economy as a whole, focusing on aggregate variables such as GDP (total output), national employment levels, inflation (aggregate price level), economic growth, and business cycles. Unlike microeconomics which studies individual units, macroeconomics looks at the big picture of how the entire economy functions and how government policies affect overall economic performance. -> correct