AS Macroeconomics: Policy objectives 2.0 / 5 based on 1 rating ? EconomicsMacroeconomic indicatorsA2/A-levelOCR Created by: JadeCreated on: 12-12-12 19:27 What is economic growth? Economic growth, in the short run, an increase in real GDP, and in the long run, an increase in productive capacity. 1 of 9 What is unemployment? Unemployment is a situation where people are out of work but willing and able to work 2 of 9 The people who are employed and unemployed. Labour force 3 of 9 What is inflation? Inflation is a sustained increase in the general price level 4 of 9 A record of money flows coming in and going out of a country Balance of payments 5 of 9 In the UK, between the periods of 1992-2007, what stage of the economic cycle? Economic growth 6 of 9 The UK has a? Current account deficit 7 of 9 What is sustainable economic growth? Economic growth that can continue over time and does not endanger future generations ability to expand productive capacity. 8 of 9 What is the unemployment percentage target? 3% 9 of 9
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