1
Q
Define Macroeconomic Equilibrium
A
Where Aggregate Demand is equal to Aggregate Supply
2
Q
Where is Macroeconomic Equilibrium in SRAS?
A
Where AD=SRAS NOT LRAS
3
Q
Where is Macroeconomic Equilibrium in Neo Classical LRAS
A
Where AD=SRAS=LRAS
4
Q
Where is Macroeconomic Equilibrium in Keynesian LRAS
A
Wherever AD=LRAS could be long run equilibrium
AQA Economics (Year 1 Macro)
flashcards
Decks in class (27)
# Cards
-
Macro objectives of government (growth,unemployment,inflation,trade TIGERS)8
-
Circular Flow of Income & Measures of GDP20
-
Index Numbers4
-
Agreggate demand - shifts & the downward slope8
-
Consumer spending & Aggregate Demand11
-
Savings and Aggregate Demand7
-
Investment & Aggregate Demand12
-
Government spending & AD7
-
Net Exports & Aggregate Demand7
-
Aggregate supply - SRAS & LRAS27
-
Macroeconomic Equilibrium4
-
Macroeconomic Equilibrium Shifts - AD, SRAS, LRAS17
-
AS/AD shifts & macro indicators9
-
Multiplier Effect & Accelerator8
-
Output Gaps5
-
Measures of economic growth & living standards12
-
Causes of Economic Growth (Short Run and Long Run)20
-
The Economic Cycle (Business Cycle) - Stages, Characteristics and Causes15
-
Costs and Benefits of Economic Growth for Living Standards (With Evaluation)7
-
How is Unemployment Measured? - Labour Force Survey (LFS)7
-
Types and Causes of Unemployment (Cyclical, Structural, Frictional and more)31
-
The Natural Rate Of Unemployment10
-
Costs and Benefits of Unemployment7
-
The CPI Inflation Measure - Constructing and Calculating a CPI Index10
-
Causes of Inflation - Demand Pull and Cost Push Inflation9
-
Costs and Benefits of Inflation13
-
Deflation- Causes And Consequences (Deflation Can Be Deadly!)20
