ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The four major objectives are: Full employment. Price stability. A high, but sustainable, rate of economic growth. Keeping the balance of payments in equilibrium.

Detailed explanation-2: -Another important macroeconomic goal is full employment (or low unemployment). Labor is the most important resource that is necessary to produce goods and services to satisfy our needs. Labor earns wages and salaries, which fuel consumer spending.

Detailed explanation-3: -In Concept 10: Economic and Social Goals, we discussed that nations have economic goals, like equity and efficiency. In macroeconomics three of these goals receive extra focus: economic growth, price stability and full employment.

Detailed explanation-4: -Three main goals of macroeconomics are: Economic growth. Employment opportunities or low levels of unemployment. Low rates of inflation.