MPM, Proportion of additional national income that is spent on imports. Change in imports over change in national income.
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Card 17
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The theory of investment that states that the level of investment depends on the rate of change of national income
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Card 18
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Economists who believe that market failures will result in price and quantity rigidities such that the equilibrium output in the long run may be less than its potential output
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Card 19
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All those people of working age who are in employment or actively seeking work
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Card 20
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A measure of the proportion of the population able to work who are in employment or who are actively seeking work
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Card 21
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The amount of the capital needed to generate each unit of output
