Economic Growth and Development

President Ramos

“Philippine 2000”

President Estrada

“Angat Pinoy 2004”

President Arroyo

“Strong Republic”

President Benigno Aquino Ill

“Daang Matuwid”

President Duterte

"Malasakit, Pagbabago, at Patuloy na Pag-unlad”

Full employment, economic growth, and price stability

Core macroeconomic goals

The other macroeconomic goals

Higher average living standards, equilibrium in balance of payments, and equitable distribution of income and wealth

Economic growth

• Is the most desired macroeconomic goal

• Is defined as the rise in the nation's productive capacity over a period of time

Ninety-five (95%)

A country is considered to be in a state a full employment if _____ percent or more of its labor force are employed

Frictional unemployment

Is a phenomenon created when workers constantly move from one company to another in order to find a better job

Price stability

Develops when market prices, in general, hardly fluctuate

Low inflation rate

• Also known as creeping inflation

• Indicates price stability

• Three percent or less rate

Economic growth

Is authentic if the country's productivity rate is higher than its population growth rate

Economic stagnation

Happens if economic growth is only as much as population growtH

Economic retrogression

Takes place if population grows faster than the economy