Macroeconomics Flashcards OCR

1.1 Circular flow of income

circular flow of income

1.1 Circular flow of income

injections

1.1 Circular flow of income

leakages

1.1 Circular flow of income

macroeconomic equilibrium

1.1 Circular flow of income

monetary flows

1.1 Circular flow of income

physical flows

1.1 Circular flow of income

GDP

1.2 Aggregate demand

aggregate demand (AD)

1.2 Aggregate demand

consumption

1.2 Aggregate demand

exports

1.2 Aggregate demand

imports

1.2 Aggregate demand

investment

1.2 Aggregate demand

government expenditure

1.2 Aggregate demand

net exports

1.2 Aggregate demand

1.3 Aggregate supply

aggregate supply (AS)

1.3 Aggregate supply

long run

1.3 Aggregate supply

long run aggregate supply

1.3 Aggregate supply

short run

1.3 Aggregate supply

SRAS

1.3 Aggregate supply

LRAS

1.5 The multiplier and the accelerator

accelerator theory

1.5 The multiplier and the accelerator

average propensity to consume

1.5 The multiplier and the accelerator

average propensity to save

1.5 The multiplier and the accelerator

marginal propensity to consume (MPC)

1.5 The multiplier and the accelerator

marginal propensity to save (MPS)

1.5 The multiplier and the accelerator

marginal propensity to withdraw (MPW)

1.5 The multiplier and the accelerator

multiplier

1.5 The multiplier and the accelerator

negative output gap

1.5 The multiplier and the accelerator

output gap

1.5 The multiplier and the accelerator

positive output gap

1.5 The multiplier and accelerator

MPC

2.1 Economic growth

actual rate of growth

2.1 Economic growth

economic cycle

2.1 Economic growth

economic growth

2.1 Economic growth

gdp per capita

2.1 Economic growth

gross domestic product (GDP)

2.1 Economic growth

long run growth

2.1 Economic growth

nominal GDP

2.1 Economic growth

real GDP

2.1 Economic growth

short run growth

2.1 Economic growth

trend rates of growth

2.1 Economic growth

GNP

2.2 Development

aid

2.2 Development

economic development

2.2 Development

genuine progress indicator

2.2 Development

human development index (HDI)

2.2 Development

measuring national wellbeing programme

2.2 Development

primary sector

2.2 Development

remittances

2.2 Development

secondary sector

2.2 Development

structure of an economy

2.2 Development

sustainable development

2.2 Development

tertiary sector

2.2 Development

GNI

2.2 Development

HDI

2.2 Development

PPP

2.3 Employment

claimant count

2.3 Employment

employment

2.3 Employment

labour force survey

2.3 Employment

unemployment

2.3 Employment

LFS

2.3 Employment

ILO

2.4 Inflation

consumer price index

2.4 Inflation

deflation

2.4 Inflation

disinflation

2.4 Inflation

hyperinflation

2.4 Inflation

inflation

2.4 Inflation

retail price index

2.4 Inflation

DIGESTIF (the various macroeconomic lenses through which economists analyse the effects of economic events, policies, or shocks)

2.4 Inflation

CPI

2.4 Inflation

RPI

2.5 Balance of payments

balance of payments

2.5 Balance of payments

capital account

2.5 Balance of payments

current account

2.5 Balance of payments

financial account

2.5 Balance of payments

income and current transfers

2.5 Balance of payments

marginal propensity to import (MPM)

2.5 Balance of payments

TIGER (government's key economic aims)

2.5 Balance of payments

BOP

2.6 Trends in macroeconomic indicators

BRICS

2.7 Income distribution and welfare

absolute poverty

2.7 Income distribution and welfare

gini coefficient

2.7 Income distribution and welfare

income distribution

2.7 Income distribution and welfare

income inequality

2.7 Income distribution and welfare

lorenz curve

2.7 Income distribution and welfare

relative poverty

2.7 Income distribution and welfare

wealth distribution

2.7 Income distribution and welfare

wealth inequality

2.8 The Phillips Curve

natural (non-accelerating inflation) rate of unemployment

2.8 The Phillips Curve

phillips curve

3.1 Fiscal policy

automatic stabilisers

3.1 Fiscal policy

average tax rates

3.1 Fiscal policy

balanced budget

3.1 Fiscal policy

budget deficit

3.1 Fiscal policy

budget position on current expenditure

3.1 Fiscal policy

budget position/fiscal stance

3.1 Fiscal policy

budget surplus

3.1 Fiscal policy

capital government expenditure

3.1 Fiscal policy

crowding in

3.1 Fiscal policy

crowding out

3.1 Fiscal policy

current government expenditure

3.1 Fiscal policy

cyclical budget position

3.1 Fiscal policy

direct tax

3.1 Fiscal policy

discretionary fiscal policy

3.1 Fiscal policy

fiscal policy

3.1 Fiscal policy

fiscal rules

3.1 Fiscal policy

government expenditure

3.1 Fiscal policy

indirect tax

3.1 Fiscal policy

laffer curve

3.1 Fiscal policy

marginal rate of tax

3.1 Fiscal policy

national debt

3.1 Fiscal policy

overall budget position

3.1 Fiscal policy

progressive taxation

3.1 Fiscal policy

proportional taxation

3.1 Fiscal policy

regressive taxation

3.1 Fiscal policy

structural budget position

3.2 Monetary policy

asymmetric inflation targeting

3.2 Monetary policy

interest rates

3.2 Monetary policy

liquidity trap

3.2 Monetary policy

monetary policy

3.2 Monetary policy

money supply

3.2 Monetary policy

quantitative easing

3.2 Monetary policy

symmetric inflation targeting

3.3 Supply side policy

supply-side policies

3.2 Monetary policy

MPC

3.2 Monetary policy

4.1 International trade

international trade

4.2 Exchange rates

bilateral exchange rates

4.2 Exchange rates

effective exchange rates

4.2 Exchange rates

exchange rates

4.2 Exchange rates

fixed exchange rate

4.2 Exchange rates

floating exchange rate

4.2 Exchange rates

hybrid exchange rate system

4.2 Exchange rates

nominal exchange rates

4.2 Exchange rates

real exchange rates

4.2 Exchange rates

SPICED (effect on UK imports & exports as British Pound appreciates)

4.3 Globalisation

absolute advantage

4.3 Globalisation

comparative advantage

4.3 Globalisation

globalisation

4.3 Globalisation

international competitiveness

4.3 Globalisation

j-curve

4.3 Globalisation

marshall-lerner condition

4.3 Globalisation

terms of trade

4.3 Globalisation

FDI

4.3 Globalisation

MNC

4.3 Globalisation

GATT

4.3 Globalisation

WTO

4.3 Globalisation

IMF

4.3 Globalisation

LDCs