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Theme 2 Econ: The UK economy - performance and policies > 2.4 NATIONAL INCOME > Flashcards

2.4 NATIONAL INCOME Flashcards

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Theme 2 Econ: The UK economy - performance and policies (30 decks)

2.1 MEASURES OF ECONOMIC PERFORMANCE

2.1.1 Economic growth

2.1.2 Inflation

2.1.3 Employment and unemployment

2.1.4 Balance of payments

2.2 AGGREGATE DEMAND (AD)

2.2.1 The characteristics of AD

2.2.2 Consumption (C)

2.2.3 Investment (I)

2.2.4 Government expenditure (G)

2.2.5 Net trade (X-M)

2.3 AGGREGATE SUPPLY (AS)

2.3.1 The characteristics of AS

2.3.2 Short-run AS

2.3.3 Long-run AS

2.4 NATIONAL INCOME

2.4.1 National income

2.4.2 Injection and withdrawals

2.4.3 Equilibrium levels of real national output

2.4.4 The multiplier

2.5 ECONOMIC GROWTH

2.5.1 Causes of growth

2.5.2 Output gaps

2.5.3 Trade (business) cycle

2.5.4 The impact of economic growth

2.6. MACROECONOMIC OBJECTIVES AND POLICIES

2.6.1 Possible macroeconomic objectives

2.6.2 Demand-side policies

2.6.3 Supply-side policies

2.6.4 Conflicts and trade-offs between objectives and policies

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