Economic Growth

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Economic Growth short run
an increase in real gdp
1 of 5
Economic Growth long run
an increase in productive capacity
2 of 5
Advantages of Economic Growth
job creation, increase income,investment, confidence
3 of 5
Disadvantages of Economic Growth
inflation, income inequality, negative externalites
4 of 5
Factors that shift LRAS
labour force increase, labour skills increases, capital stock increase, technology
5 of 5

Other cards in this set

Card 2

Front

Economic Growth long run

Back

an increase in productive capacity

Card 3

Front

Advantages of Economic Growth

Back

Preview of the front of card 3

Card 4

Front

Disadvantages of Economic Growth

Back

Preview of the front of card 4

Card 5

Front

Factors that shift LRAS

Back

Preview of the front of card 5

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