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5 Cards in this Set
- Front
- Back
Economic growth |
Economic growth measures how much the value of output produced in an economy (known as the national income) has grown over a period of time, usually over one year. Calculated as the percentage change in national income over a period of time. |
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Price stability |
This is with how fast the average level prices of a range of goods and services rises over a period of one year. |
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Minimising unemployment |
This involves minimising the number of those of working age who are looking for work but are unable to find a job. |
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Stable balance of payments on current account |
The balance of payments measures the difference between the value of goods and services bought from abroad. |
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Balancing the budget |
The government would like the value of government expenditure and the value of taxation to be the same as each other so that the governments budget is balanced. |