Have u heard of this new acronymn NICE economy? Its a very ingenious way of refering to a perfectly functioning macroeconomy or BEST possible state of a macroeconomy. Well, in our lectures we used GIFT to capture the 4 favourable indicators of sustained growth, low inflation; full employment and favourable trade balance. Now I am leaving it to u to guess the full words behind NICE which exactly what GIFT is about. Anyone wants to try??
mr tan:)
PS: Mervin King, the chief of UK's central bank said recently that in his opinion the "NICE economy" for the UK is coming to an end : (
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