Chapter 1: Q.14 (page 25)
What are the three main goals of macroeconomics?
Short Answer
Expert verified
Full employment, economic growth, and price stability.
Learning Materials
EXAM TYPES
Features
Discover
Chapter 1: Q.14 (page 25)
What are the three main goals of macroeconomics?
Full employment, economic growth, and price stability.
Microeconomics:
Macroeconomics is a branch of economics that allows economists and other specialists to provide precise information on key determinants of national income and employment, such as aggregate demand and aggregate supply. Increased aggregate demand and supply cause the gross domestic product to grow because it results from increased production activities, which raise the overall value of goods and services produced.
Economic growth, full employment, and price stability are the three key macroeconomic goals for the United States and most other countries. The economic well-being of a country is dependent on carefully identifying these objectives and selecting the best economic policies to achieve them.
Unlock Step-by-Step Solutions & Ace Your Exams!
Get detailed explanations and key concepts
Al flashcards, explanations, exams and more...
To over 500 millions flashcards
We refund you if you fail your exam.
Over 30 million students worldwide already upgrade their learning with Vaia!
All the tools & learning materials you need for study success - in one app.
Get started for freeA computer systems engineer could paint his house, but it makes more sense for him to hire a painter to do it. Explain why.
How does the appearance of positive slope differ from negative slope and from zero slope?
What is substitution effect?
Why do indifference curves slope down?
What is globalization? How do you think it might have affected the economy over the past decade?
What do you think about this solution?
We value your feedback to improve our textbook solutions.