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Macro Economic Objectives

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Topic updated on 02/14/2019 10:30am
  • Various objectives which society wants to fulfill are explained as macro economic
    objectives.
  • Expected targets to direct macro economic variables are named macro economic
    objectives

Macro economic objectives are as follows

  • Full employment
  • Economic Stability
  • Equity
  • Economic growth
  • Sustainable development

 

  • Full employment means all resources of the economy which are used in maximum
    efficiency to produce goods and services.
  • Equity means to minimize the unequal distribution of income.
  • Equity does not mean equal distribution of income among house holds.
  • Earnings can be varied with quality of human resources and productivity but it is not
    contradictory with equity.
  • Macro economic stability is explained as maintaining the internal and external
    stability in the economy.
  • Price stability and full employment are important in internal stability.
  • To maintain fixed foreign exchange rate and a balance B.O.P is important in external
    stability
  • The reason for economic growth is increase in real National Production for a period
    of time and production possibilities curve will shift to the right in economic growth.
  • Standard of living will increase if the increased real income is divided among
    people fairly.
  • Sustainable development is explained as a balanced development of economic,
    social and environmental sectors.
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