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What are the main macro-economic policy objectives?
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| Submitted: Mon Dec 22 2003
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1. (a) What are the main macro-economic policy objectives? The main macro-economic policy objectives are to maintain the full employment; increase the growth of national output in term of GDP; keep control the inflation in the acceptable level; induce the Regional Balance of the uneven distribution area and the balance of Trade which is the least objective because it's the government constraint rather than an objective on decision making. First of all, full employment can be illustrated in term of prospective economy, Government tried to minimize the figure of the numbers of the people unemployed. However, there are around 940,000 people unemployed in UK. The unemployment rate remained steady at 3.2%, which is much lower than the rate in many other industrialized countries nowadays. It's an economic waste associated with people unemployed, and also in the consequence, national output will decrease while the unemployment rate increase. It leads the permanent loss of...
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