Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
5 Cards in this Set
- Front
- Back
|
Economic growth |
Economic growth measures how much the value of output produced in an economy (known as the national income) has grown over a period of time, usually over one year. Calculated as the percentage change in national income over a period of time. |
|
|
Price stability |
This is with how fast the average level prices of a range of goods and services rises over a period of one year. |
|
|
Minimising unemployment |
This involves minimising the number of those of working age who are looking for work but are unable to find a job. |
|
|
Stable balance of payments on current account |
The balance of payments measures the difference between the value of goods and services bought from abroad. |
|
|
Balancing the budget |
The government would like the value of government expenditure and the value of taxation to be the same as each other so that the governments budget is balanced. |
