Objectives of macroeconomic
Assignment 2
Macroeconomic objectives
Explain the governments various macroeconomic objectives and their importance to UK economy. Is it possible for government to achieve all these objectives at the same time?
In the essay
• Define macroeconomic / you can compare it with micro
• Macroeconomic objectives
– Economic Growth (advantages & disadvantages)
– Low inflation ( price stability ) ( costs ) ( type of inflation )
– Balance of payment ( equilibrium/surplus )
– Low unemployment – Full employment (causes of unemployment)(costs)
– Redistribution of income & wealth ( economic social + political )
– Regional policy ( economic social + political )
– Productivity (efficiency) –Training (research development innovation new technology production product )
What they mean & why it’s important
_____
Production possibility frontier (PPF)
Full use of resource
AD=C+I+G+X-M
Business cycle
______
Conflict (Achieving objectives)
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