Macroeconomics Definitions
All the key terms for the OCR F582 National Economy exam defined.
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?- Created by: Marcus
- Created on: 28-04-13 13:00
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2. A tax that takes a greater percentage of income from the poor e.g. raising VAT
- Regressive Tax
- Progressive Tax
- National Insurance
3. People out of work in-between irregular period of employment e.g. actors, session musicians
- Search Unemployment
- Casual Unemployment
- Structural Unemployment
4. Output of a good or service per worker over a given time period e.g. output per worker per hour
- Labour Productivity
- Employment
- Output
5. Forms of government spending and taxation that change automatically to offset fluctuations in economic activity i.e. keep the economic cycle nearer the trend growth rate throughout
- Injections
- Automatic Stabilisers
- Leakages
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