Macro Definitions
LEARN ALL OF THESE FOR THE EXAM!!!!
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?- Created by: claire
- Created on: 29-03-13 16:17
| M | U | C | U | O | J | M | C | C | G | S | M | W | K | B | I | V | T | Y | E | S |
| D | C | O | F | S | M | S | T | Y | Q | E | M | A | T | A | T | G | M | G | J | Y |
| D | O | N | S | U | S | U | W | C | R | A | P | Y | B | L | O | U | E | W | L | T |
| N | S | S | L | P | T | N | O | L | H | S | R | S | A | A | C | X | L | J | W | W |
| D | T | U | Y | P | R | D | T | I | Y | O | U | O | A | N | A | U | B | W | M | S |
| G | S | M | F | L | O | S | Y | C | S | N | G | F | X | C | Q | X | O | V | Q | A |
| J | O | E | V | Y | P | H | P | A | M | A | F | M | M | E | J | M | R | D | F | B |
| E | F | R | R | S | M | M | E | L | Q | L | T | E | O | O | P | L | P | O | T | I |
| Y | U | E | X | I | I | R | S | U | K | U | M | A | X | F | U | C | C | O | V | T |
| C | N | X | X | D | D | R | O | N | F | N | O | S | B | P | E | P | I | H | V | I |
| B | E | P | H | E | N | M | F | E | I | E | L | U | H | A | N | M | M | I | B | I |
| P | M | E | G | P | A | I | I | M | U | M | G | R | O | Y | H | C | O | W | F | F |
| V | P | N | G | O | S | E | N | P | W | P | K | I | D | M | H | A | N | L | K | L |
| S | L | D | F | L | T | K | F | L | E | L | V | N | G | E | X | W | O | T | L | G |
| T | O | I | B | I | R | R | L | Y | R | O | M | G | I | N | D | F | C | M | A | U |
| J | Y | T | G | C | O | B | A | M | Y | Y | V | G | K | T | Y | H | E | F | H | D |
| S | M | U | D | I | P | C | T | E | K | M | P | D | T | S | H | M | E | R | V | X |
| S | E | R | A | Y | X | V | I | N | A | E | Y | P | X | B | G | R | H | U | P | B |
| U | N | E | P | Q | E | W | O | T | C | N | S | X | K | O | M | W | T | Y | N | T |
| O | T | W | U | X | V | D | N | E | S | T | N | R | S | P | E | L | T | M | P | T |
| X | L | P | F | J | Q | P | K | O | P | E | V | F | V | B | A | X | Q | N | K | L |
Clues
- 1)loss of potential output 2)lower potential living standard 3)lower tax revenue and increased spending on benefits 4)a worsening of the government budget position 5)increases in NHS costs 6)Increase in policing costs due to increases in crime (5, 2, 12)
- 1)National income method 2)national output method 3)national expenditure method (4, 2, 9, 3)
- A record of the money flows into and out of a country i.e. the total value of imports and exports (7, 2, 8, 3)
- COST-PUSH INFLATION=an increase in the general price level due to an increase in the costs of production DEMAND -PULL INFLATION= an increase i the general price level due to an increase in the level of aggregate demand (3, 5, 2, 9)
- EXPORTS=goods and services sold abroad IMPORTS=goods and services bought from abroad (7, 3, 7)
- Government policy focused on increasing the productive capacity of the economy (6, 4, 7)
- people out of work and unable to find work due to a lack of aggregate demand (8, 11)
- spending by households on consumer products (8, 11)
- The allocation of scarce resources to consumers with unlimited wants and needs and how this can be done efficiently. (3, 8, 7)
- unemployment that is caused by there being different levels of demand for workers by industries at different times of the year. (8, 12)
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