2.4.1 National Income Flashcards
1
Q
Describe the circular flow of income
A
2
Q
Distinction between wealth and income:
A
Income is a flow of money.
Wealth is a stock of assets.
WH Economics (Macro) (52 decks)
- Economics Definitions
- 2.1.1 Economic Growth
- 2.1.2 inflation
- 2.1.3 (a-c) Unemployment
- 2.1.3 Unemployment (d-f)
- 2.1.4 Balance of Payments
- 2.2.1 The characteristics of Aggregate Demand
- 2.2.2 Consumption (C)
- 2.2.3 Investment (I)
- 2.2.4 Government Expenditure (G)
- 2.2.5 Net Trade
- 2.3.1 Characteristics of AS
- 2.3.2 Short Run AS
- 2.3.3 Long Run AS
- 2.4.1 National Income
- 2.4.2 Injections and Withdrawals
- 2.4.3 Equilibrium Levels Of Real National Output
- 2.4.4 The Multiplier
- 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
- 2.6.1 Possible Macroeconomic objectives
- 2.6.2 Fiscal policy
- 2.6.2 Monetary policy
- 2.6.3 Supply Side Policies
- 2.6.4 Conflicts and tradeoffs between objectives
- Theme 2 Application
- Theme 2 (MDF)
- 4.1.1 Globalisation
- 4.1.2, 4.1.3, 4.1.4 - International Trade: Specialisation, Patterns, and Terms of Trade
- 4.1.5 Trade Blocs / WTO
- 4.1.6 Restrictions on Free Trade
- 4.1.7 Balance Of Payments
- 4.1.8 Exchange Rates
- 4.1.9 International competitiveness
- 4.2.1 Absoloute and Relative Poverty
- 4.2.2 Inequality
- 4.3.1 Measures Of Development
- 4.3.2 Factors influencing growth and development
- 4.3.3 Strategies influencing growth and development (a-c)
- 4.3.3 Strategies influencing growth and development (d)
- 4.4.1 Role of financial markets
- 4.4.2 Market failure in the financial sector
- 4.4.3 Role of central banks
- 4.5.1 Public expenditure
- 4.5.2 Taxation
- 4.5.3 Public sector finances
- 4.5.4 Macroeconomic policies in a global context
- Theme 4 Application
- Theme 4 (MDF)
- Macro Diagrams
