CPI - one measurement of inflation (households), PPC - show all combinations of output , deflation - when average price are falling, structural - Unemployment caused by a lack of geographical and / or occupational mobility, NRU - When the only unemployment in the economy is seasonal, structural and frictional, Labour force - People willing and able to work in a nation, Frictional - Unemployment resulting from a worker whose contract expires and then not renewed, Economic growth - When the economy grows, Inflation - A rise in average price levels, Unemployment - Individuals in the economically active population without paid employment, Aggregate demand - C+G+I+(X-M), Real GDP - GDP adjusted for inflation, Short term - Growth caused by increase in AD, Long term - Growth caused by increase in LRAS,

Macroeconmic objectives

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