Macroeconomics Definitions

All the key terms for the OCR F582 National Economy exam defined.

  • Created by: Marcus
  • Created on: 28-04-13 13:00

1. The value of imported goods and services exceeds the value of exported goods and services

  • Balance of Trade
  • Trade Deficit
  • Trade Surplus
1 of 20

Other questions in this quiz

2. % increase in real GDP in an economy over a given time period

  • Boom
  • Economic Growth Rate
  • PPC expansion rate

3. People out of work in-between irregular period of employment e.g. actors, session musicians

  • Search Unemployment
  • Casual Unemployment
  • Structural Unemployment

4. The price of one currency in terms of another e.g. $1.5 = £1

  • Exchange Rate
  • Free Trade
  • Macro Equilibrium

5. A government macroeconomic goal e.g. low unemployment, sustainable economic growth, low and stable inflation, balance of payments equilibrium, economic stability and an even distribution of income

  • Macroeconomic Policy
  • Macroeconomic Policy Objective
  • Fiscal Policy




This is a set of 88 flash cards defining many of the key terms required up to A2 standard. Useful for testing yourself and colleagues. Should demonstrate further learning needs.



Good resource, some cards aren't needed in 2015 spec, and some (taxation and subsidies) are needed for unit 1 not unit 2 but still very helpful for last minute revision

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