Government's economic objectives 0.0 / 5 ? Economicsgovernment objectives GCSEAQA Created by: ya mans helping yallCreated on: 21-12-17 10:40 what are the 4 macroeconomic objectives Economic Growth, Full Employment, Low inflation, Balance of Payments 1 of 9 What does Economic Growth Mean looks at how how fast national income grows over a period of time 2 of 9 how is Economic Growth measured/ what is the UK target the percentage change in GDP per quarter/ 2-3% real GDP growth per annum or 0.7% per quarter 3 of 9 what does Full Employment mean refers to a situation where everyone actively seeking work is employed 4 of 9 how is Full Employment measured/ what is the UK target The UK measures unemployment as a percentage of the total UK workforce/ aim for unemployment below 4% 5 of 9 what is inflation Inflation is a general increase in prices and the fall in the purchasing value of money 6 of 9 how is Inflation measured/ what is the UK target the UK government measures it using the Consumer Price Index/ the UK aims for 2/3% inflation per year (preferably 2%) 7 of 9 what is Balance of Payments the value of financial transactions between the UK and other foreign countries usually within a year 8 of 9 how is Balance of Payments measured/ what is the UK target Exports-Imports. if this value is negative, it is a deficit and if it is positive, it is a surplus/ The UK aims for a small surplus 9 of 9
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