21. Supply side policies Flashcards
1
Q
Supply side policies
A
Government policies aimed at increasing the LRAS/potential output of the economy
2
Q
Labour market
A
Where labour is bought and sold
3
Q
Product market
A
Markets where all kinds of goods and services are traded
4
Q
Trade union
A
An organisation set up to negotiate on wages, working hours and conditions with employers on behalf of its members, using bargaining power.
5
Q
Deregulation
A
The process of removing government controls from markets
