Objectives

• What is sustainable economic growth?


  Stable economic growth that can be sustained over the long term for future generations
• How is sustainable economic growth measured?


  It is measured by the growth in the production capacity of an economy over time, usually in terms of GDP
• What is the estimated target range for sustainable economic growth? 


  3-4% GDP growth rate per annum
• What does price stability refer to?

  Price stability refers to where prices are stable and not fluctuating, requiring low inflation rates
• How is price stability measured?

  It is measured using the inflation rate, which is determined from the changes in the consumer price index (CPI)
• What is the target range for price stability?

  2-3% rate of inflation per annum
• What does full employment mean?


  Full employment refers to when everyone who is willing and able to work can find employment, meaning cyclical unemployment is zero
• How is full employment measured?

  A person is considered employed if they are willing and able to work and are in paid work for at least an hour a week
• What is the estimated target for full employment?

  4.5% rate of unemployment
• What is equitable income distribution?

  Equitable income distribution promotes the welfare of all Australians and is achieved through measures to improve vertical equity like the progressive tax system
• How is equitable income distribution measured?

  It is measured through the Gini coefficient and Lorenz curve
• Does equitable income distribution have a target?

  Equitable income distribution has no target
• Equitable income distribution is between being a macro or micro objective.