What are the usual aims of a government's domestic macroeconomic policy?

Ch21 Macroeconomic Policy Aims

Flashcard
•
Social Studies
•
11th Grade
•
Hard
Chloe Zhang
FREE Resource
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6 questions
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1.
FLASHCARD QUESTION
Front
Back
Price stability, low unemployment, and economic growth.
2.
FLASHCARD QUESTION
Front
What is a typical inflation target for a central bank?
Back
2% to 3%.
3.
FLASHCARD QUESTION
Front
Who usually sets the inflation target?
Back
The government.
4.
FLASHCARD QUESTION
Front
Why is an inflation target set by the government?
Back
To make the central bank more accountable in its implementation of monetary policy and to advise employers and workers of the likely target for wage increases.
5.
FLASHCARD QUESTION
Front
What does low unemployment mean?
Back
A low proportion of the labour force is unemployed.
6.
FLASHCARD QUESTION
Front
What are the benefits of economic growth?
Back
Increase in output and employment, and an improvement in living standards.
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