A2 Macroeconomics

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Created by: Kim
Created on: 19-06-10 13:14

If there is an increase in taxation

There is a disincentive effect

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If inflation falls out of its target range

The governor of the Bank of England must write a letter of explanation to the Chancellor

2 of 15

Long term capital flows occur

For longer than a year

3 of 15

Some do not desire enty into the Euro because

There is a loss of control of fiscal and monetary policy

4 of 15

Shoe leather costs are

The costs of searching for the best prices as a result of an increase in inflation

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The economy is in recession when

There are at least two successive quarters of negative growth

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GDP may underestimate national income because

It does not include black market activity

7 of 15

Exchange rates are a

Monetary policy instrument

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Deflation is

A fall in the price level over time

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An output gap is

The difference between actual growth and trend growth

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The combined enrolment ratio is used as a measure of knowledge in which macroeconomic indicator?

Human Development Index

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The EU is a

Single Market

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GDP measures what?

The value of the output of the economy

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Actual growth only occurs if

Spare capacity is available and the output can be cleared

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A crawling peg means that

The value of a fixed exchange rate is reviewed periodically

15 of 15

Other cards in this set

Card 2

Front

If inflation falls out of its target range

Back

The governor of the Bank of England must write a letter of explanation to the Chancellor

Card 3

Front

Long term capital flows occur

Back

Card 4

Front

Some do not desire enty into the Euro because

Back

Card 5

Front

Shoe leather costs are

Back

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A2 Macroeconomics