2.3.1, 2.3.2, 2.3.3 Aggregate Supply 0.0 / 5 ? EconomicsMacroeconomicsASEdexcel Created by: 13clarkenCreated on: 19-01-19 10:40 10846957321 Across 1. ... is when there is a large change in factors such as wages, raw materials or taxes (6, 4, 5) 6. In the ... all factors of production can be changed (4, 3) 9. A ... of the AS curve means that there have been changes in the supply conditions which have caused a ... of the AS curve (5) Down 2. In the ... at least one factor of production is fixed, they are not all variable (5, 3) 3. ... LRAS says that as the economy reaches full employment, higher output leads to higher prices. At full employment, the economy cannot produce any more whatever prices firms receive (10) 4. Demand Side policies: ... is the use of interest rates, causing a contraction or expansion of the supply curve (8, 6) 5. Demand Side policies: ... is taxation and government spending, causing a contraction or expansion of the supply curve (6, 6) 7. Strong Pound Imports Cheap Exports Dear (6) 8. ... Aggregate supply curve is the level of output associated with production on the production possibility frontier of an economy (4, 3) 10. ... is the total sum of all supply curves for every firm and every market (9, 6)
Comments
No comments have yet been made