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EDEXCEL THEME 2 MACRO ECONOMICS > CHAPTER 23 THE CHARACTERISTICS OF AGGREGATE DEMAND > Flashcards

CHAPTER 23 THE CHARACTERISTICS OF AGGREGATE DEMAND Flashcards

1
Q

Aggregate

A

The sum or total

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2
Q

Aggregate demand

A

The total of all demands or expenditures in the economy at any given price

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3
Q

Aggregate demand curve

A

Shows the relationship between the price level and equilibrium national income. As the price level rises the equilibrium level of national income falls.

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4
Q

Domestic economy

A

The economy of a single country

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EDEXCEL THEME 2 MACRO ECONOMICS (15 decks)

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