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Published byScott Greene Modified over 8 years ago
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The Meaning of Macroeconomic Performance By the end of this session, you:By the end of this session, you: –Must know definitions for AD and AS. –Must know how macroeconomic performance is measured. –Must understand the difference between a negative output gap and a positive output gap. –Should understand how the issues arising from output gaps can be resolved. –Could be able to evaluate the effectiveness of different policies to deal with output gaps.
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Macroeconomics Macroeconomics considers the economy as a whole eg the quantity of goods and services produced by all businesses and the government sector. Macroeconomics also studies relationships between one country and another.Macroeconomics considers the economy as a whole eg the quantity of goods and services produced by all businesses and the government sector. Macroeconomics also studies relationships between one country and another.
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Main Sectors of UK Economy 1.Households 2.Firms 3.Government 4.International sector
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Macroeconomic Performance 1.Real standards of living 2.Employment levels 3.Price levels 4.Trade balance 5.Growth 6.Public service provision 7.Environmental impact
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The Meaning of Macroeconomic Performance By the end of this session, you:By the end of this session, you: –Must know definitions for AD and AS. –Must know how macroeconomic performance is measured. –Must understand the difference between a negative output gap and a positive output gap. –Should understand how the issues arising from output gaps can be resolved. –Could be able to evaluate the effectiveness of different policies to deal with output gaps.
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