Final answer:
Secondary economic objectives, in addition to main goals like stable prices and full employment, include income equality, environmental sustainability, and a balanced trade. These objectives are pursued through various policies within frameworks provided by different economic theories. Governments utilize tools like fiscal and monetary policy to achieve these goals.
Step-by-step explanation:
The question, "What are some other (not main) economic objectives?" refers to goals that countries may pursue in addition to the primary objectives of stable prices, full employment, and economic growth. Other economic objectives can include, but are not limited to, income equality, environmental sustainability, and maintaining a balance of trade.
Secondary Economic Objectives
Income Equality: While it is not always at the forefront of policy goals, reducing income inequality is a significant goal for many economies. Policies to address this can include progressive taxation, social welfare programs, and education funding to improve income distribution.
Environmental Sustainability: The pursuit of sustainable economic growth that minimizes environmental degradation is increasingly vital. This involves investing in renewable energy, enforcing regulations to limit pollution, and encouraging sustainable agricultural and industrial practices.
Balance of Trade: Countries may strive for a favorable balance of trade, where they export more than they import, to increase net earnings from international trade. This involves trade agreements, tariffs, and quotas to manage trade flows.
Other objectives can include increasing economic efficiency, championing economic freedom, ensuring economic security and economic equity, and managing national growth. These goals are often interrelated, and their importance can vary depending on whether a country operates under a market or command economy.
Frameworks and Policy Tools
Frameworks used to analyze the macroeconomy include classical, Keynesian, and Monetarist theories among others, while policy tools encompass fiscal policy (government spending and taxation), monetary policy (control of the money supply), and regulatory measures. Governments leverage these tools to influence economic activity and achieve their specified objectives.