Wednesday, March 19, 2008

15. Relatively high rates of unemployment and inflation reduce economic growth and result in a lower standard of living than would occur in their abse

15. Relatively high rates of unemployment and inflation reduce economic growth and result in a lower standard of living than would occur in their absence. Consequently, low unemployment and low inflation are macroeconomic policy goals. Unemployment and inflation are discussed in modules 7 and 8.

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