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
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