The Five Macroeconomic Objectives and Their Indicators

What this note covers

1. Economic Growth: Real GDP and GDP Per Capita
2. Full Employment: The Unemployment Rate, NAIRU, and Labour Underutilisation
3. Price Stability: CPI and the RBA's Inflation Target
4. External Stability: Current Account Deficit and Net Foreign Debt
5. Equitable Income Distribution
6. Policy Trade-Offs Between the Five Objectives
7. Indicators Summary and the Role of Policy Frameworks

7 sections · 14 key terms & formulas · 6 common mistakes