Скачать или смотреть A-Levels Business (9609) Chap: 7.5 External economic influences on business activity

Chapter: 7 External economic influences on business activity
Unit: 7.5 Government policies to achieve macroeconomic objectives

The passage outlines government policies aimed at achieving macroeconomic objectives like stable prices, low unemployment, and sustainable growth.

*Monetary policy* involves central banks adjusting interest rates to control inflation. Higher rates can reduce borrowing costs and dampen consumer demand, while lower rates stimulate economic growth.

*Fiscal policy* focuses on government spending and taxation. During a recession, the government may increase spending or reduce taxes to boost demand (expansionary policy). Conversely, during an economic boom, it may cut spending or raise taxes to control inflation (contractionary policy).

*Supply side policies* aim to enhance economic efficiency by reducing taxes, increasing labor flexibility, and investing in infrastructure, encouraging productivity and competitiveness.

*Exchange rate policy* manages currency value, with appreciation benefiting importers but harming exporters, while depreciation does the opposite. Stability in exchange rates is crucial to minimize economic risks. Understanding these policies helps grasp their impact on businesses and the economy overall.

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