Three goals of a healthy economy are growth, high employment and price stability. An economy’s gross domestic product measures its growth. The labor department’s unemployment rate measures an economy’s employment, and inflation or deflation measures an economy’s price stability.
Other policies for maintaining a healthy economy include stable interest rates, a balanced budget and a favorable trade balance with other countries. Economic development is the act of setting and reaching goals and creating policy for the development of a healthy economy. Economic development takes the concerted effort of financial experts and federal and community officials to create and maintain a healthy economy.