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Economic growth
Economic growth measures how much the value of output produced in an economy (known as the national income) has grown over a period of time, usually over one year.
Calculated as the percentage change in national income over a period of time.
Price stability
This is with how fast the average level prices of a range of goods and services rises over a period of one year.
Minimising unemployment
This involves minimising the number of those of working age who are looking for work but are unable to find a job.
Stable balance of payments on current account
The balance of payments measures the difference between the value of goods and services bought from abroad.
Balancing the budget
The government would like the value of government expenditure and the value of taxation to be the same as each other so that the governments budget is balanced.
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