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Aaron Mensah
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Decks in this class (31)
Key terms
Indicators and objectives,
Living standards standard of living,
Living costs cost of living
18
cards
Key terms pt2
Productivity,
Inflation,
Cpi
16
cards
Key terms pt3
Leakages,
Injections,
National income multiplier effect
17
cards
Key terms pt4
Lras,
Usual causes of lras shifts,
Output gaps
10
cards
Indicators and objectives
Economic growth,
How is economic growth measured,
Unemployment
11
cards
Indicators and objectives pt2
Inflation,
Deflation,
Cpi
15
cards
Index Numbers
Index numbers,
Base year,
Percentage change in index numbers
5
cards
Circular flow of income
National income accounts,
3 ways of calculating gdp,
Output
12
cards
Circular flow of income pt 2
Imports m,
Exports x,
Social transfers
11
cards
Determinants of aggregate Demand
Aggregate demand,
Aggregate demand formula,
Consumption c
13
cards
The aggregate demand curve
What is the ad curve,
How does ad curve,
Price level
7
cards
SRAS
Aggregate supply,
Short vs long run,
Short run
12
cards
LRAS
Lras,
The lras graph,
Axis
9
cards
AD-AS Model
Assumptions,
Macroeconomic equilibrium,
Changes
7
cards
Chain of reasoning
Aggregate demand events,
Sras events,
Lras events
10
cards
Economic growth
Economic growth,
Gdp,
Measures of gdp
10
cards
Economic growth pt2
Rate of economic growth,
Formula of rate of economic growth,
Trend rate of economic growth
11
cards
The economic cycle
The economic cycle,
Trend growth rate,
Output gaps
7
cards
The economic cycle pt2
Phase 1 recovery,
Phase 2 boom,
Phase 3 recession
7
cards
Unemployment
Total population,
Labour force,
Economically inactive
15
cards
Unemployment pt2
Why does the government care who ...,
Labour and demand,
Types of unemployment
10
cards
Inflation
Inflation,
How is inflation measured,
Rpi
10
cards
Inflation pt2
Closer look at deflation,
Benefits of deflation,
Issues with deflation
6
cards
Balance of payments
Balance of payments,
Balance of payments accounts,
Current account
8
cards
Current account
Current acount,
Trade in goods,
Trade in services
8
cards
Current account pt 2
Exports to economic growth chain ...,
Imports to inflation rate chain o...,
Link between aggregate demand and...
9
cards
Possible conflicts between objectives
Meaning of possible conflicts bet...,
How to graphically show conflicts...,
Economic growth vs inflation
6
cards
Monetary policy
Exchange rates,
Exchange rates notes,
Strong pound appreciated
8
cards
Monetary policy pt2
Interest rates,
Monetary policy notes,
Contractionary monetary policy ch...
5
cards
Fiscal policy
What is fiscal policy,
Fiscal policy notes,
Government spending
8
cards
Fiscal policy pt2
0
cards
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macroeconomics
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