Answer :
Final answer:
Macroeconomic policies aim to manage an economy on a broad scale. Major objectives include promoting economic growth, reducing unemployment and inflation, maintaining balance of payments stability, and achieving equitable distribution of income.
Explanation:
The subject of the question revolves around macroeconomic policies, specifically their major objectives. These policies aim to manage an economy on a broad scale to maintain its overall health. The five major objectives of macroeconomic policies are:
- Economic growth: Policies are geared towards promoting sustainable economic growth. This involves increasing the productive capacity of the economy and fostering innovation.
- Low unemployment: Reducing unemployment is a key objective. This is achieved by creating more job opportunities and ensuring a match between job-seekers and vacancies.
- Low inflation: Controlling inflation to maintain price stability is another crucial aim. This ensures the purchasing power of money is not eroded, maintaining consumer and business confidence.
- Balance of payments stability: Macroeconomic policies also aim at achieving a favorable balance between foreign exchange inflows and outflows.
- Equitable distribution of income: Finally, policies also aim to reduce income and wealth disparities for a balanced and inclusive economic development.
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