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Macroeconomics

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6 Terms

1
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economic efficiency
making the most out of available resources
2
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Economic freedom
freedom from government intervention
3
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Security and Predictability
assurance that goods and services will be available, payments will be made on time
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economic equity
fair distribution of wealth
5
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growth and innovation
innovation leads to economic growth, and economic growth leads to a higher standard of living
6
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other goods
societies pursue additional goals