To what extent do the main macroeconomic objectives conflict?

The five main macroeconomic objectives are balanced trade, a low and stable inflation rate, sustainable economic growth, low unemployment and a fair distribution of income. Some of these macroeconomic objectives can conflict, in that when implementing policies to achieve one objective, the ability to achieve a different objective can become difficult. 

Firstly, economic growth is considered to be the central objective in most countries, however it often comes at the cost of a high rate of inflation. Economic growth and an increase in Aggregate Demand (AD) in the economy shifts the AD curve to the right and in doing so means that the new equilibirum price level is higher than before, causing high inflation. (I would then illustarte this to the student on an AD/AS diagram if they had not yet coivered this). Secondly, economic growth can often be attributed to consumer spending and increases in wealth, which results in an increase in spending on imported goods. This means that the current account on the balance of payments deterioirates and means that balanced trade as an objective is not achieved. Additionally, there is often a trade off between inflation and unemployment. In periods of high growth, jobs are created, lowering unemployment. However, this places an upward pressure on wages which can cause inflation. (I would then show the student the Phillips Curve diagram and suggest that it would impress an examiner if understood and used in an exam). 

(I would then suggest to the student that a short conclusion is appropriate). Although governemnts attempt to acheieve all objectives in line with each other often it is the case that an objective such as a low and stable inflation rate must be sacrificed to achieve economic growth, for example.