MACRO Aims: 3. Growth Flashcards
1
Q
What is ECONOMIC GROWTH?
A
2
Q
What is a RECESSION?
A
3
Q
Distinguish between the UK’s GROSS DOMESTIC PRODUCT (GDP) and GROSS NATIONAL PRODUCT (GNP)
A
4
Q
Distinguish between REAL and NOMINAL Gross Domestic Product (GDP)
A
5
Q
Measuring GDP - National Expenditure Method
A
6
Q
Describe reasons for Economic Growth being a Government objective
A
7
Q
Discuss the Costs and Benefits of Economic Growth
A
8
Q
Describe, using a diagram, the stages of the business cycle (Trade Cycle).
A
9
Q
Can you explain HOT MONEY INFLOWS?
A
10
Q
FISCAL POLICIES (Demand-side policies) to create GROWTH
A
11
Q
MONETARY POLICIES (Demand side policies) to create GROWTH
A
12
Q
SUPPLY SIDE POLICIES to create GROWTH
A
