macro set 6

HideShow resource information
  • Created by: inayah
  • Created on: 17-05-14 08:47
multiplier effect
the process by which any change in a component of AD results in a greater final change in real gdp
1 of 13
net exports
the value of exports minus the value of imports
2 of 13
net savers
people who save more than they borrow
3 of 13
nominal GDP
output measured in current prices and so not adjusted for inflation
4 of 13
occupational mobility of labour
difficulty in moving from one type of job to another
5 of 13
output gap
the difference between an economies actual and potential real gdp
6 of 13
overheating
the growth in AD outstripping the growth in AS, resulting in inflation
7 of 13
price level
the average of the prices of all the products produced in an economy
8 of 13
privatisation
transfer of assets from the public to the private sector
9 of 13
progressive tax
a tax that takes a higher % from the income of the rich
10 of 13
protectionism
the protection of domestic industries from foreign competitors
11 of 13
quota
a limit on exports
12 of 13
rate of interest
the charge for borrowing money and the amount paid for lending money
13 of 13

Other cards in this set

Card 2

Front

the value of exports minus the value of imports

Back

net exports

Card 3

Front

people who save more than they borrow

Back

Preview of the back of card 3

Card 4

Front

output measured in current prices and so not adjusted for inflation

Back

Preview of the back of card 4

Card 5

Front

difficulty in moving from one type of job to another

Back

Preview of the back of card 5
View more cards

Comments

No comments have yet been made

Similar Economics resources:

See all Economics resources »See all Market failure resources »