Economic Object of the government

Question 1

name 6 economic objectives of the government

Answer 1

achieving economic growth
maintain full employment
ensuring price stability
balance of payments
reducing inequality
maintaining environmental changes

Question 2

What is referred to by the conflicts of economic objectives?

Answer 2

it is difficult to achieve all the policies at once

Question 3

What is the conflict between economic growth and inflation?

Answer 3

economic growth can come from lowe unemployment and higher demand however higher demand can lead to inflation and so can lower unemployment as it pushes up wages

Question 4

Explain the conflict between economic growth and maintaining environmental

Answer 4

economic growth leads to higher consumption which can lead to higher pollution and more use of non-renewable resources

Question 5

How can the effect on the environment be limited with economic growth?

Answer 5

with better technology

Question 6

Which 3 objectives can economic growth help with?

Answer 6

lower unemployment
lower government borrowing
higher living standards