Question

In what way are the macroeconomic goals of full employment and economic growth related?

Answer 1

Answer

The answer is option A

Further Explanation

Macroeconomics or more often called macroeconomics is the science of the economy as a whole. Macroeconomics explains the economic changes that affect many people, companies, and markets. Macroeconomics can be used to analyze the best ways to influence targets such as economic growth, prices, labor and sustainable balance improvement.

Macroeconomics Updated various concepts and variables, but there are always three main topics for macroeconomic research. Macroeconomic theories can be related to phenomena that are issued, bought and released. Beyond macroeconomic theory, these topics are also important for all economic agents including workers, consumers and producers.

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Answer 2

The macroeconomic goals of full employment and economic growth are related when a country experiences full employment, its people have more income and are more likely to spend money. This leads to increased revenue for businesses, increased profits for entrepreneurs, and increased economic growth.

Answer: Option A

Explanation:

Unemployment means that a person does not possess a job. A low unemployment rate implies that a country is productive in nature as people who want to get employed are mostly got job.

Although there are a lot of factors determining economic growth, by taking these two variables, one can say that when there is full employment the employed will earn a lot and by doing so it will result in more expenditure in the form of more purchases.

More purchases from the company means that the government can gain more revenue in the form of taxes, entrepreneurs can gain more revenue through sales. More revenue implies that the economy can grow.