Answered: eping the balance of payments in…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Choose TWO of the four macroeconomic objectives studied such as Full employment, Price stability, A high, but sustainable, rate of economic growth. Keeping the balance of payments in equlibrium :  State why governments / decision makers try to achieve the TWO macroeconomic objectives

 Identify key problems which may be encountered when attempting to balance these two objectives

 Evaluate the macroeconomic measures, employing fiscal and/or monetary policies, which could be taken to balance these two objectives.

The structure of your answer to this question should include a brief introduction, main body, and conclusion which summarises your views.

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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