1.1 Objectives of Government Economic Policy

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Last updated 4:03 PM on 10/7/26
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7 Terms

1
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define poilicy objective

the targets the government wishes to achieve

2
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state the objectives of the government economic policy

  1. economic growth

  2. low unemployment

  3. limit or control inflation

  4. satisfactory balance of payments


3
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state the benefits of economic growth

  • unemployment rate drops

  • larger investments

  • and lower interest rates


4
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state the disadvantages of economic growth

  • hyperinflation

  • taxes increase


5
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define disinflation

prices go up at a slower rate

6
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define deflation

prices going down

7
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define base rates

the interest rate set by the Bank of England that influences other interest rates in the economy