AS Macroeconomics: Policy objectives

  • Created by: Jade
  • Created on: 12-12-12 19:27
What is economic growth?
Economic growth, in the short run, an increase in real GDP, and in the long run, an increase in productive capacity.
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What is unemployment?
Unemployment is a situation where people are out of work but willing and able to work
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The people who are employed and unemployed.
Labour force
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What is inflation?
Inflation is a sustained increase in the general price level
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A record of money flows coming in and going out of a country
Balance of payments
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In the UK, between the periods of 1992-2007, what stage of the economic cycle?
Economic growth
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The UK has a?
Current account deficit
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What is sustainable economic growth?
Economic growth that can continue over time and does not endanger future generations ability to expand productive capacity.
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What is the unemployment percentage target?
3%
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Other cards in this set

Card 2

Front

What is unemployment?

Back

Unemployment is a situation where people are out of work but willing and able to work

Card 3

Front

The people who are employed and unemployed.

Back

Preview of the front of card 3

Card 4

Front

What is inflation?

Back

Preview of the front of card 4

Card 5

Front

A record of money flows coming in and going out of a country

Back

Preview of the front of card 5
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