2.5.3 Trade Cycle

  • Created by: 13clarken
  • Created on: 17-04-19 14:46
The ... is a cycle or series of cycles of economic expansion or contraction
Trade Cycle
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Parts of the trade cycle: A ... is when national income is high, economy working beyond full employment. Overheating is possible, C and I is high, tax revenue is high, wages and profits rise. Imports rise and inflation occurs
Boom
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Parts of the trade cycle: A ... is when output and income fall, there is a fall in C and I. tax revenues fall, G on benefits increases and inflation declines
Downturn
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Parts of the trade cycle: A .. is when there is high unemployment, low consumption, low investment and low imports
Recession
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Parts of the trade cycle: A ... is when there is increasing output and income and falling unemployment
Recovery
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Causes of trade cycle: ... shocks affect aggregate demand as there is an increase in interest, and increase in taxation, the stock market crashes and the housing market bubble bursts causing collapse
Demand side
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Causes of trade cycle: ... shocks affect aggregate supply with there being a sharp rise in commodity prices
Supply side
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Other cards in this set

Card 2

Front

Parts of the trade cycle: A ... is when national income is high, economy working beyond full employment. Overheating is possible, C and I is high, tax revenue is high, wages and profits rise. Imports rise and inflation occurs

Back

Boom

Card 3

Front

Parts of the trade cycle: A ... is when output and income fall, there is a fall in C and I. tax revenues fall, G on benefits increases and inflation declines

Back

Preview of the front of card 3

Card 4

Front

Parts of the trade cycle: A .. is when there is high unemployment, low consumption, low investment and low imports

Back

Preview of the front of card 4

Card 5

Front

Parts of the trade cycle: A ... is when there is increasing output and income and falling unemployment

Back

Preview of the front of card 5
View more cards

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