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Decks in this class (27)
Economics As A Social Science
Thinking like an economist the pr...,
The use of ceteris paribus assump...,
The inability in economics to mak...
3
cards
Positive And Normative Economic Statements
Distinction between positive and ...,
The role of value judgements in i...
2
cards
The Economic Problem
The problem of scarcity where the...,
The distinction between renewable...,
The importance of opportunity cos...
3
cards
PPF
Production possibility frontier
1
cards
Specialisation And Division Of Labour
Specialisation and the division o...,
Advantages of specialisation and ...,
Disadvantages of specialisation a...
6
cards
Free Market Economies, Mixed Economies And Command Economies
Free market economies,
Command economy,
Mixed economy
8
cards
Economic Growth
Rates of change of real gdp as a ...,
Expenditure method of working out...,
Income method of working out gdp
19
cards
Inflation
Inflation definition,
Deflation definition,
Disinflation definition
15
cards
Employment And Unemployment
Measures of unemployment,
The claimant account,
Evaluating the claimant account
17
cards
Balance Of Payments
Components of the balance of paym...,
Exports and imports,
What is the balance of payments m...
7
cards
The Characteristics Of AD
Components of ad and their relati...,
Ad equation,
Components of ad
6
cards
Consumption
Consumer spending,
Disposable income,
A consumers marginal propensity t...
6
cards
Investment
Gross investment,
Net investment,
Influences on investment the rate...
8
cards
Governent Expenditure
Influences in government expendit...,
Influences in government expendit...
2
cards
Net Trade
Net trade exports minus imports,
The main influences on the net tr...,
The main influences on the net tr...
6
cards
The Characteristics Of AS
The as curve,
Moving along the as curve,
Shifting the as curve
14
cards
National Income
The circular flow of income,
Withdrawals and injections,
The distinction between income an...
3
cards
Injections And Withdrawals
The impact of injections and with...
1
cards
Equilibrium Levels Of Real National Output
Equilibrium real national output,
The effects of shifts in ad and a...,
Shift in as
4
cards
The Multiplier
The multiplier ratio,
The multiplier process,
Marginal propensity to consume mpc
8
cards
Economic Growth
Causes of growth,
Factors which cause economic growth,
Synoptic point
5
cards
Output Gaps
The difference between actual gro...,
Positive and negative output gaps...,
Difficulties with measuring the o...
4
cards
Trade (Business Cycle)
The business cycle,
Stages of the business cycle,
Characteristics of a boom
8
cards
Possible Macroeconomics Objectives
The government has 4 main macroec...,
Economic growth,
Low unemployment
9
cards
Demand-side Policies
What are demand side policies,
Monetary and fiscal policy,
Monetary policy instruments inter...
18
cards
Supply-side Policies
What do supply side policies do,
The distinction between market ba...,
Market based policies
6
cards
Conflicts And Trade-offs Between Objectives
Economic growth vs inflation,
Economic growth vs the current ac...,
Economic growth vs the government...
9
cards
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Macroeconomics y1
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