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Macroeconomic Goals and SOL, Standard of Living - Coggle Diagram

- - - - To achieve a rate of growth that can be sustained without significant environment degradation and resource depletion
    - - A rate of growth that is sustained over a period of time and focusses on employment opportunities for majority of country's population
    - - Consists of both potential growth (increase in capability) and actual growth (real growth)
- - - - Where there is a sustained increase in the general price level
- - - - Where whoever is willing and able to work has a job, no involuntary employment
- - - - The difference between the country's total international receipt for its exports and the country's total international payment for its imports
    - - Record of an economy's international transactions between its residents and those of the rest of the world for a period of time