measurment of macroeconomics Flashcards
1
Q
give 6 of the big government objectives
A
steady economic growth of 2.25%
fairer distribution of income and wealth
reducing government budget deficit and national debt
stable prices target of 2% +/- 1% inflation
full employment
favourable balance of payments
2
Q
what is the demand for labour derived from
A
the demand for the goods and services that labour produces
3
Q
measuring the economy 3 things
A
total spending = total income = total output
