Government economic objectives and policies

One of the economic objectives

The increase in average price level of goods and services over time

The difference between a country's exports and imports are recorded.

People really want to work but they can't find a job. This situation is called

The total value of output of goods and services in a country in one year is called

GDP stands for

The situation when GDP of a country increases

The value of income which falls when prices rise faster than money income is

What will happen if there is rapid inflation?

• Real income will increase
• Workers will not be able to buy more
• Prices will be higher
• More jobs will be created
• Living standard will fall.

Can low inflation encourage businesses to expand?

• Yes
• No