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Economics units 3&4

This class was created by Brainscape user Kelvin Liang. Visit their profile to learn more about the creator.

By: Kelvin Liang
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Decks in this class (12)

UNIT 3 AOS 1 - part 1
Relative scarcity,
Opportunity cost,
Production possibility frontier p...
28  cards
UNIT 1 AOS 1 - PART 2 (market failure)
Market failure def,
Unregulated market what happens,
Elasticity def explanation
26  cards
UNIT 3 AOS 2 (T) - part 1
Define aggregate demand yes,
Aggregate supply def yes,
Economic activity def yes
27  cards
UNIT 3 AOS 2 (T) - part 2 - SSEG
Strong and sustainable econoimc g...,
Strong meaning in ssg footnotegoal 1,
Sustainable meaning for ssg footn...
11  cards
UNIT 3 AOS 2 - part 2 - price stability
Definelow and stable inflation,
Cost inflation,
Demand inflation
13  cards
(SELF) UNIT 3 AOS 2 - part 3 - Full employment
Unn formula,
Participation rate formula,
Underutilization rate
16  cards
Statistics
Unemployment in the past 12 months,
Unemployment in the past 12 months,
Unemployment in the past 12 months
8  cards
UNIT 3 AOS 3 - part 1 - BOP/Trade/NFD/NFL
What does external stability mean and why do we want it? Why do we trade? Benefits. What is the BOP What are the 2 accounts – CA and CAFA What are the components of BPO: Each component name and definitions What is in each component What is a deficit and what is a surplus CAD as a % of GDP (5-6% approx.) Structural and Cyclical causes for CAD Describe trendlines
19  cards
UNIT 3 AOS 3 - part 2 - TOT/IC
Defterms of trade tot,
Defexchange rate,
Listfactors influencing the excha...
28  cards
u4aos2 - monetary policy
Definetransmission mechanism,
List,
Cost of credit savings investment...
17  cards
u4aos2 - budgetary policy
Definebudgetary policy,
Expansionary budget policy what i...,
Contraction budgetary policy
16  cards
u4aos2
How a of the following budgetary ...,
2  cards

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Economics units 3&4

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