paper 3 Flashcards
1
Q
What does the acronym POPSICLE stand for in the context of micro and macro economics?
A
POPSICLE stands for price, output, productivity, structure of the market, inefficiency, competition, labour market, externalities
2
Q
DIGESTIF
A
Development: Human development, sustainability
Inflation: Cost push / demand pull factors, expectations
Growth: Impact on short run / long run growth paths
Employment: Jobs, natural rate of unemployment
Structure of Economy: Pattern of GDP, jobs, investment, incomes
Trade: Trade balance, current account, capital flows
Inequality: Effects on income and wealth inequality
Fiscal Balance: Impact on state borrowing, debt, tax burdens
