Evaluate how, in the long-run, governments could try to reconcile conflicts between the various objectives of economic policy

AQA A-Level Economics Paper 2 June 2023

Evaluate how, in the long-run, governments could try to reconcile conflicts between the various objectives of economic policy. (25 marks)

Plan

• Paragraph 1
  • Argument: the government could reconcile the conflict of low inflation vs slow growth by using expansionary fiscal policy
  • Diagram: multiplier effect
  • Evaluation: causes other trade-offs such as increae in budget deficit
• Paragraph 2
  • Argument: the government could reconcile the conflict of high growth vs high inflation by using supply-side policies
  • Diagram: right shift in LRAS
  • Evaluation: opportunity cost and time lag, can also use contractionary demand-side policies

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