Who are the macroeconomic players among the following?

Both 1 and 2

The correct answer is option 3: Both 1 and 2

Macroeconomic players refer to the key entities that influence and operate within the economy at a broad level.

• The State is a major macroeconomic player as it formulates and implements fiscal policies, monetary policies, and regulatory frameworks to control inflation, employment, and economic growth.
• Statutory bodies are government-established institutions that play a crucial role in regulating industries, implementing policies, and ensuring economic stability. Examples include the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), and the Planning Commission in earlier times.

While consumers are important participants in the economy, they do not function as macroeconomic players since their decisions operate at an individual level, making them part of microeconomics rather than macroeconomics.