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Decks in this class (24)
2.1.1 Economic growth
What is gdp,
What,
Explain the expenditure approach ...
28
cards
2.1.2 Inflation
What is inflation,
How is the average price level me...,
What is deflation
31
cards
2.1.3 Employment and unemployment
How is someone considered unemployed,
What does the labour force include,
What does the non labour force in...
25
cards
2.1.4 Balance of payments
What is the balance of payments bop,
What are the 2 sections of the bop,
Explain what the current account is
9
cards
2.2.1 Characteristics of AD
What is aggregate demand ad,
How is ad calculated,
What happens if ad increases
17
cards
2.2.2 Consumption (C)
What is disposable income,
What can cause a change in dispos...,
What is the relationship between ...
8
cards
2.2.3 Investment (I)
What is investment,
What does investment help,
What is depreciation
10
cards
2.2.4 Government expenditure (G)
What is government expenditure,
Explain how the influence of trad...,
Explain how influence of policy a...
4
cards
2.2.5 Net trade (X-M)
What is the net trade balance,
How is the net trade balance infl...,
If the uk real income increases h...
10
cards
2.3.1 Characteristics of AS
What is the aggregate supply,
Why does the as curve slop upwards,
How is sras influenced
4
cards
2.3.2 Short-run AS
What are the factors that affect ...,
Explain how an increase in costs ...,
Explain how a decrease in costs o...
7
cards
2.3.3 Long-run AS
What is long run aggregate supply...,
What are the two opposing views o...,
Explain the classical view
11
cards
2.4.1 National income
What is the circular flow of income,
What does households provide firm...,
What do firms provide households ...
4
cards
2.4.2 Injections and withdrawals
What are injections,
What are withdrawals,
What is the multiplier effect
4
cards
2.4.3 Equilibrium levels of real national output
What is real national output equi...
1
cards
2.4.4 Multiplier
What is the multiplier ratio,
What is the multiplier process ba...,
What does an initial injection sh...
19
cards
2.5.1 Causes of growth
Explain short run economic growth,
Explain long run economic growth,
What is actual growth
5
cards
2.5.2 Output gaps
What is long term growth,
What is an output gap,
What is a positive output gap
5
cards
2.5.3 Trade (business) cycle
What is a trade business cycle,
What are the four points in the c...,
What are characteristics of a rec...
4
cards
2.5.4 The impact of economic growth
Benefits of economic growth,
Costs of economic growth
2
cards
2.6.1 Possible macroeconomic objectives
What are the macroeconomic object...,
What is the economic growth target,
What does economic growth have im...
18
cards
2.6.2 Demand-side policies
What are demand side policies,
What are the two categories of de...,
What is fiscal policy
18
cards
2.6.3 Supply-side policies
What is the aim of supply side po...,
What are the two categories of su...,
Explain interventionist supply si...
14
cards
2.6.4 Conflicts and trade-offs between objectives and policies
What do policy decisions often cr...,
Explain the trade off of economic...,
Explain the trade off of economic...
7
cards
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Economics - Theme 2
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