Measurement of Macroeconomic Performance Flashcards
a) the objectives of government economic policy b) Macroeconomic indicators c) Uses of index numbers d) Uses of national income data
1
Q
what are the macroeconomic objectives (TIGERS)
A
Trade, Inflation,Growth, unemployment, distribution of income
2
Q
what are the aims for growth
A
- stong, sustained, sustainable
-which will improve living
standards, increase life expectancy and improve literacy rates.
3
Q
what are the aims for unemployment
A
- low unemployment or full employment
-aiming for an unemployment rate of around 3%
4
Q
what are the aims for trade
A
balanced
5
Q
what are the aims for inflation
A
low and stable ( 2% +1 OR -1)
6
Q
what are the aims for distribution of income
A
‘fair’
7
Q
A
