Overall Flashcards
1
Q
What are 2 aspects of the macroeconomic condition of an economy?
A
Economic performance - 4 indicators, Standard of Living
2
Q
What are the 4 indicators of economic performance, and how they are measured?
A
Economic growth (sustained) - real GDP/GNP
Price Stability - CPI, GPL
Full employment - Unemployment rate
Balance of Payments - BoP position
3
Q
2 aspects to Standard of Living? And what indicators
A
Material (real GDP per capita - affected by other 3 indicators also, Gini coefficient),
Non-material (pollution index, stress levels, LT spending on education and healthcare)
