Measurements Of Macroeconomic Objectives Flashcards
1
Q
7 Macroeconomic policies in the economy
A
Low inflation
Low unemployment
Sustained economic growth
Favourable current account position of the balance of payments
Fairer distribution of income
Environmental protection
Balance the budget
2
Q
Lead indicator
A
Info on the future state of the economy
3
Q
Lag indicator
A
Information about the past and present economic performance
4
Q
Real GDP
A
Value of goods and service accounting for inflation
5
Q
Index number
A
Allow easy comparison of changes in the variable compared to a base year (100)
6
Q
Index number equation
A
Current year value
—————————– X. 100
Base year value
