4: Macroeconomic Objectives Flashcards
1
Q
Objectives of Australia Government
A
- Sustainable Economic Growth
- Price Stability
- Full Employment
- Equitable Distribution of Income
- The Efficient Use of Resources
2
Q
Complementing Objectives
A
- EG vs FE
- EG vs EID
- FE vs EG
- FE vs EID
- Price Stability vs EG & FE
- PS vs EID
- Efficient Allocation of Resources vs EG
- EAoR vs PS
- EAoR vs EID
3
Q
Conflicting Objectives
A
- EG vs Structural Unemployment (FE)
- EG vs PS
- FE vs PS
- PS vs EG & FE
- EID vs EG
- EID vs FE
- EAoR vs EID
4
Q
Time Lags
A
- Recognition Lag
- Decision Lag
- Action Lag
- Effect Lag
