The Five Macroeconomics
The government has come up with the five macroeconomics strategies in order to help imbalance the economic growth, the rate of unemployment ,inflation and the other in order for the country to be ran effectively.
Five macroeconomic objectives and definitions
1. Economic growth
-an increase in the standard living of the people and an increase in the market value of the production of goods and services produced over time.
-“an increase in economic goods and service”. (Eloff, M. Nel, D. Van Zyl, M. Clever Economics)
How can it be measured? in the economy there are many methods that are used by economists to measure how fast the economy is growing the most common one is the REAL GDP(GROSS DOMESTIC PRODUCTS).GDP can
…show more content…
Five macroeconomic objectives and definitions
1. Economic growth
-an increase in the standard living of the people and an increase in the market value of the production of goods and services produced over time.
-“an increase in economic goods and service”. (Eloff, M. Nel, D. Van Zyl, M. Clever Economics)
How can it be measured? in the economy there are many methods that are used by economists to measure how fast the economy is growing the most common one is the REAL GDP(GROSS DOMESTIC PRODUCTS).GDP can be measured into three different ways of which are
• Quarterly growth at annual rate
• The fourth quarter or year over year growth rate
• The annual average growth rate
Formula GDP1 – GDP2 Economic growth = GDP1
CURRENT MEASUREMENTS/LEVELS
• REAL GDP is the current measurement
2. Full employment
-the government aims to reduce the unemployment rate to a very low unemployment rate or no unemployment at
…show more content…
Five macroeconomic objectives and definitions
1. Economic growth
-an increase in the standard living of the people and an increase in the market value of the production of goods and services produced over time.
-“an increase in economic goods and service”. (Eloff, M. Nel, D. Van Zyl, M. Clever Economics)
How can it be measured? in the economy there are many methods that are used by economists to measure how fast the economy is growing the most common one is the REAL GDP(GROSS DOMESTIC PRODUCTS).GDP can be measured into three different ways of which are
• Quarterly growth at annual rate
• The fourth quarter or year over year growth rate
• The annual average growth rate
Formula GDP1 – GDP2 Economic growth = GDP1
CURRENT MEASUREMENTS/LEVELS
• REAL GDP is the current measurement
2. Full employment
-the government aims to reduce the unemployment rate to a very low unemployment rate or no unemployment at
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