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AD- C + I
AD- G + (X-M)
AD/AS Model
Aggregate Supply
Basic Concepts-Central Ideas (demo)
Basic Concepts-Resources (FOP) (demo)
Business Cycle
Circular Flow Model- Basic ideas
Circular Flow Model-Full Model
Demand-Basics Concepts
Demand-Conditions/Shifts
Economic Development
Economic Growth-Calculating GDP
Economic Growth-Causes/Costs & Benefits
Economic Growth-Different Measures
Economic Growth-Savings/Investment
Exchange Rates-Basics
Exchange Rates-Forex Market
Fiscal Policy
Gini coefficient
Inflation-Causes of
Inflation-General Price Level Changes
Inflation-Impacts
Inflation-Quantity Theory of Money (MV=PQ)
Inflation-Real Values
Inflation-The Consumer Price Index
Labour Market-Basics
Labour Market-Changes
Macroeconomics-Aims & Conflicts
Market Equilibrium-Basics
Market Equilibrium-Price/Output changes (Advanced)
Market Failure-Income Inequality
Monetary Policy
Production & the Production Process
Production Possibility Curve-Basics
Production Possibility Curve-Shifts/Uses
Sales Tax and the Market
Subsidy and the Market
Supply-Basics Concepts
Supply-Conditions/Shifts
Supply-side policies
Taxes
Trade-Changing Pattern of Trade
Trade-Components of the Balance of Payments
Trade-Current Account Deficit
Trade-Free Trade
Trade-One Country Trade Model
Trade-Protectionism
Trade-Two Country Trade Model
Unemployment-Causes of/Types
Unemployment-Impacts & Policies
Unemployment-Statistics/Measures
Each Glossary Term relates to a parent topic above.
Absolute equality of income & the Gini coefficient
Absolute inequality of income & the Gini coefficient
Actual Employment
AD/AS Model
Advantage of a subsidy
Advantages & disadvantages of batch production
Advantages & disadvantages of flow (mass) production
Advantages & disadvantages of job production
Aggregate Demand
Aggregate Supply
Allocative efficiency and a PPC
Anti-dumping laws (regulations)
Anti-inflationary policies & unemployment
Appreciation
Arguments for protectionism
Assumptions made about a PPC
Average Tax Rate
Balance on Current Transfers
Balance on Goods
Balance on Income
Balance on Services
Base year
Batch production
Best measure used to determine future output
Best measure used to determine quality of life
Bowed Production Possibility Curve
Business Cycle
Calculating GDP
Calculating the Gini coefficient
Capital Intensive
Capital Resources
Capital stock/ Phyical capital-Supply-side policies
Causes of changes in the current account
Causes of changes in the exchange rate
Causes of unemployment
Census
Central Bank
Ceteris Paribus
Changes in components of the quantity theory of money and the impact on inflation
Changes in price and output
Changes in the AD/AS Model
Changes in the business cycle & inflation
Changes in the velocity of circulation & inflation
Choice
Clean Float
Company tax rates-Supply-side policies
Comparing a value over a number of years
Comparing a value within a year
Complements
Components of the quantity theory of money
Concerns over a current account deficit
Constant Values
Consumer
Consumer confidence and AD
Consumer Demand
Consumer Price Index (CPI)
Consumption Spending (C)
Consumption spending-the two sector model
Cost Push Inflation
Cost push inflation- exchange rate depreciates
Cost push inflation- increase in indirect taxes
Cost push inflation- increase in wages
Cost push inflation- net migration loss
Cost push inflation- price of inputs increase
Cost to Government of a Subsidy
Costs of Production
Costs of production & the AS curve
Current Values
Cyclical Unemployment
Decrease in quantity demanded
Decrease in quantity supplied
Deflation
Demand
Demand for foreign exchange
Demand for Labour
Demand for labour curve-shifts
Demand Pull Inflation
Demand pull inflation- government operating (budget) deficit
Demand pull inflation- reduction in direct taxes
Demand pull inflation-falling exchange rate (depreciation)
Demand pull inflation-interest rates fall
Demand pull inflation-net migration gain
Demand schedule
Depreciation
Depression
Derived demand
Deterioration in the current account
Determinants of Demand
Determinants of Supply
Development-Human Development Index (HDI)
Development-Multidimensional Poverty Index (MPI)
Dirty Float
Disdvantage of a subsidy
Disinflation
Distinguishing between economic development & economic growth
Distinguishing between price & cost
Distribution of Income
Division of Labour (DOL)
Economic concepts illustrated by a PPC
Economic Goods
Economic Growth
Education-Supply-side policies
Effects of Growth
Embargo (trade barrier)
Employment argument for protectionism
Entrepreneur
Equality
Equality of Income
Equation of Exchange
Equilibrium
Equity
Equity Efficiency Trade-Off
Equity of Income
Equity/Efficiency trade-off
Excess Demand
Excess Supply
Exchange Rate Diagram
Exchange rates & the AS curve
Exchange rates & the BOP
Exchange rates-calculating earnings for exporters
Exchange rates-calculating payment for importers
Exclusions from GDP
Expansionary fiscal policy
Expenditure Method
Expenditure-dampening policies
Expenditure-switching policies
Exports one country model
Exports two country model
Factors of Production
Factors that can influence the level of unemployment
Factors that Influence Investment
Factors that Influence Savings
Factors that influence the size of the labour force
Features of a demand schedule
Financial Intermediaries
Firms and Inflation
Firms Sector
Fiscal drag
Fiscal Policy-contractionary
Flow (mass) production
Fluctuations in Economic Activity
Foreign Sector
Free Goods
Free Trade
Free trade-exports
Free trade-imports
Frictional Unemployment
Full employment and the natural rate of unemployment
Funding a current account deficit
Goods
Government and the current account
Government Budget Deficit
Government Budget Surplus
Government Sector
Government Spending
Government Spending (G)
Government Tax Revenue
Growth-Costs & Benefits
Growth-Determinants
Hard landing
Harrod Domar Model
HLFS
Horizontal World Supply Curve
Household attitude and AD
Household income and AD
Household Sector
Household-the two sector model
Households and Inflation
How to calculate the labour force
How to calculate the labour force participation rate
How to calculate the unemployment rate
How to calculate the value of consumer spending
How to construct a Consumer Price Index
How to construct a demand schedule
How to derive market demand
How to derive market supply
How to illustrate a per unit sales tax
How to illustrate a per unit subsidy
How to illustrate a price change on a demand curve
How to illustrate a price change on a supply curve
Human Resources
Impact of a subsidy on consumers
Impact of a subsidy on producers
Impact of an indirect tax on consumers
Impact of an indirect tax on producers
Impact of deflation on various groups
Import licences or quotas (trade barrier)
Importance of events for growth
Imports one country model
Imports two country model
Imposing a tariff
Improvement in the current account
Improving productivity
Improving productivity-Division of labour
Improving productivity-Specialisation
Income Method
Increase in quantity demanded
Increase in quantity supplied
Increased savings & unemployment
Increased wage demands & unemployment
Indicators of Development
Indirect Tax
Individual demand
Individual Price Rise
Inequality and Economic Development
Inequality and taxes
Inequality and the Gini coefficient
Inequality and the government
Inequality and the Lorenz Curve
Infant industry argument
Inflation
Inflationary expectations and AD
Inflationary Gap
Infrastructure-Supply-side policies
Injections
Interdependence-the two sector model
Interest
Interest Rates
Interest rates and AD
Interest rates and the exchange rate
Interest-reward for capital resources
Investment (I)
Investment Spending (I)
Investment-the two sector model
Invisibles
Invisibles (BOP)
Involuntary Unemployment
Job production
Kuznets curve
Labour force & the AS curve
Labour force participation rate
Labour Intensive
Lack of qualifications & unemployment
Law of Demand
Law of Supply
Leakages
Lewis Growth Model
Limitations of data on economic growth
Limitations of the Consumer Price Index
Limited Means
Link between greater savings or capital goods & living standards
Link between saving & investment
Lorenz Curve
Lorenz model & the Gini coefficient
Macroeconomic Conflicts
Macroeconomic economic objective-Balance of Payments
Macroeconomic economic objective-Economic Growth
Macroeconomic economic objective-Equality
Macroeconomic economic objective-Full Employment
Macroeconomic economic objective-Price Stability
Macroeconomics
Marginal Tax Rate
Market Demand
Market Supply
Measures of Unemployment
Minimum Wage
Monetary Policy
Money flows-two sector model
Movements along a Demand Curve
Movements along a Supply Curve
MV = PQ
Natural Resources
Negative (disadvantages) outcomes of economic growth
Net Exports (X-M)
Net Social Welfare
Nominal GDP
Non-Renewable Resources
Obstacles to growth
Official Cash Rate (OCR)
Offshoring
Opportunity Cost
Peak (boom)
Phillips Curve
Policies for assisting growth in Less Developed Countries
Policies for growth in Less Developed Countries-Debt Relief
Policies for growth in Less Developed Countries-Export Promotion
Policies for growth in Less Developed Countries-Fair Trade
Policies for growth in Less Developed Countries-Import Substitution
Policies for growth in Less Developed Countries-Overseas Aid
Policies on unemployment
Policies to promote free trade
Policy Target Agreement (PTA)
Positive (advantages) outcomes of economic growth
PPC illustrating a decision to produce more capital goods
PPC illustrating a decision to produce more consumer goods
PPC illustrating an increase in productive capacity
PPC illustrating an increase in real GDP
PPC-Choice
PPC-Opportunity cost
PPC-Scarcity
PPC-Slope
Price index
Price per unit a firm receives with a sales tax
Price per unit a firm receives with a subsidy
Producer-the two sector model
Producers Price Index (PPI)
Production
Production efficiency and a PPC
Production Method
Production Possibility Curve
Productive Capacity
Productivity
Productivity/technology & the AS curve
Profit
Profit-reward for entrepreneurship
Progressive Tax
Protectionism
Quota
Real flows-two sector model
Real GDP
Real Income
Real Values
Reason for a bowed PPC
Reason for a straight line PPC
Reason for the downward slope of the demand for labour curve
Reason for the slope of the supply of labour curve
Reasons for a free trade agreements
Reasons for a shift of the demand for labour curve
Reasons for a shift of the supply of labour curve
Reasons for an increase in productive capacity
Reasons for earning different incomes
Reasons for free trade
Reasons why government imposes taxes
Recession
Recessionary Gap
Regional and skill-based mismatch & unemployment
Regressive Tax
Related Goods
Removing a tariff
Renewable Resources
Rent
Rent-reward for natural resources
Resources
Rostow Model
Savings (S)
Savings and Inflation
Savings-the two sector model
Scarcity
Self-employment
Service
Setting (establishing) an exchange rate
Shape of a PPC
Shifts of the AD Curve
Shifts of the AS Curve
Shifts of the Demand Curve
Shifts of the Supply Curve
Shortage
Soft landing
Sources of Government Revenue
Specialisation
Sticky wages
Straight Line Production Possibility Curve
Strategic (essential industry) argument
Structural Unemployment
Subsidy
Substitutes
Sunrise industry
Sunset industry
Supply
Supply of foreign exchange
Supply of Labour
Supply of labour curve-shifts
Supply schedule
Surplus
Tariffs
Tax Avoidance
Tax Evasion
Tax take and the business cycle
The 45 Degree Line
The basic economic problem
The Capital Account
The Current Account
The Financial Account
The foreign exchange market
The Labour Market
The real cost of a decision
Trade and Inflation
Trade Cycle
Trade reforms-Supply-side policies
Trade weighted index
Trade-Weighted Index
Two Country Trade Model
Types of taxes
Types of Unemployment
Typical Problems of Less Developed Countries
Underemployment
Unemployment and migration
Unemployment benefits & unemployment
Unemployment economic effects
Unemployment rate
Unemployment social effects
Unequal rewards and income inequality
Uses of the Consumer Price Index
Velocity of circulation
Visibles
Visibles (BOP)
Voluntary Unemployment
Wages
Wages-reward for human resources
Wants
Wealth and inequality
Wealth effect and AD
Weighting an index
Where will a market clear
Why can individuals not have everything they want
Why investment might not take place
Why is demand limited and wants unlimited
Working-age population
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