Objectives of Government Economic Policy (AQA A-Level Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What are the four main macroeconomic policy objectives governments pursue?
What are the four main macroeconomic policy objectives governments pursue?
Growth, employment, price stability, BoP
What is short-run economic growth?
What is short-run economic growth?
Using idle resources to move towards PPF
How is the rate of real GDP increase calculated?
How is the rate of real GDP increase calculated?
Nominal GDP increase minus inflation rate
How is a recession officially defined in the UK?
How is a recession officially defined in the UK?
Six months or more of negative growth
What was Beveridge's definition of full employment?
What was Beveridge's definition of full employment?
Unemployment at 3% of labour force
What is the official measure of unemployment in the UK?
What is the official measure of unemployment in the UK?
Labour Force Survey (LFS)
What is disinflation?
What is disinflation?
Inflation rate falling but still positive
What is the UK government's inflation target?
What is the UK government's inflation target?
2% inflation rate
How many goods and services does the Consumer Prices Index (CPI) measure?
How many goods and services does the Consumer Prices Index (CPI) measure?
700 different consumer items
What is a balance of trade deficit?
What is a balance of trade deficit?
Money value of imports exceeds exports