Gov Objectives Flashcards
1
Q
List me 4 main government objective
A
- Economic Growth
- Inflation
- Unemployment Rate
- Balance of Payments
2
Q
What’s the target for economic growth
A
2%
3
Q
Target for inflation?
A
2%
4
Q
Target for Unemployment
A
Low
5
Q
Target for Balance of Payment
A
0
6
Q
What is economic growth?
A
An increase in the capacity of an economy to produce good+services compared from 1 period of time to another.
7
Q
What is inflation?
A
General increase in prices over a period of time
8
Q
What is Unemployment?
A
% of people who can’t find work, but are seeking to
9
Q
What is balance of payments
A
All financial transactions made between consumers, business and government in one country with others.
