Economic terms 0.0 / 5 ? EconomicsEconomic key terms OtherNone Created by: Catriona YoungCreated on: 07-03-16 13:55 Stagflagnation Where industry declines but inflation continues 1 of 6 GDP (Gross Domestic Product) Annual total value of goods/produce provided 2 of 6 R&D Research and development in the economic sphere 3 of 6 'Stop-go' policy Go: people have money to spend with reduced taxes and interest rates. Stop: Consumption increases too quickly so taxes and interest rates go up 4 of 6 Overheating Where there is too much money in the econoy due to high consumption 5 of 6 Hire purchase Modern Conviences for instance could be bought in installments; however if installments are not paid, the item can be reclaimed 6 of 6
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