Economic Growth
Short run growth means to make more ___ and___ each year.
goods , services
full unemployment means:
everyone who wants a job has a job
What is an acceptable inflation/deflation range?
around 2%
over time ,a country's ___ should match its___
exports,imports
income redistribution means
to take taxes paid from the rich and give it to the poorer ones.
long run growth means increasing the country's ability to make things by improving people's___,___, and___.
skills, machines,technologies.
the labor force=
people working + people looking for work
stable prices can help families or businesses to _____
plan for the future
___termed ___or surpluses are accepatble
short,deficits
examples are...
free or cheap healthcare,education,healthing support,pensions or more
more___=better living standards
output
who are economically inactive
Children, retirees, students, homemakers, individuals who are too sick to work, and others.
a little bit of inflation is helpful, because...
it keeps firms producing and lets wages adjust without cutting pay
long term deficits leads to ___
debt
it matters because it helps everyone get basic ___ and reduces ___gaps
services,poverty
why employment rates matter
a ___inflation is better than a ___ inflation
small and steady, big swing (up or down)
long-term surpluses mean people could've enjoyed more ___
import
income redistribution refers to
A. a group
B. a community
C. an individual
D. a firm/company/school
C.
more output means___
more jobs, stable prices, extra exports(anything reasonable)
why wouldn't the employment rate reach 100%
firms want to "use" an employer as much as possible and save on the outcome.
price stability helps the economy positively
it helps the employment rate
short term surpluses are fine due to the reason because a country is __________ to make goods for later
importing machines
income redistribution takes into account of
A.wages
B.capital assets
C. insurance payment amount
D. all of the above
both A. and B.