Exam (elaborations)
CIE AS Economics - The Macroeconomy With Complete Solutions Latest Update
- Course
- Institution
CIE AS Economics - The Macroeconomy With Complete Solutions Latest Update
[Show more]
Seller
Follow
Schoolflix
Reviews received
Content preview
CIE AS Economics - The Macroeconomy WithComplete Solutions Latest Update
Aggregate Demand - correct answers C + I + G + (X-M)
Causes of a Shift in the Aggregate Demand Curve - correct answers -Consumption
-Investment
-Government Spending
-Net Exports
Short Run Aggregate Supply - correct answers Total output supplied
-not enough time for factors of production to change
Shifts in the SRAS Curve - correct answers -change in price of factors of production
-change in taxes on firms
-change in factors of productivity/quality of resources
-change in quantity of resources
Long Run Aggregate Supply - correct answers Keynesians: government
intervention required to achieve full employment
New-Classical: long run will result in production at full capacity without govt.
intervention
, Shifts in the LRAS Curve - correct answers Change in quantity and or quality of
factors of resources/factors of productivity
Interaction of AS and AD - correct answers Macroeconomic equilibrium
-where AD = AS
Inflation - correct answers Sustained increase in an economy's price level
Cost Push Inflation - correct answers -bad inflation
-caused by increased cost of production, associated with decreased output
Demand Pull Inflation - correct answers -caused by and increase in AD, not
matched by an increase in AS
-associated with increased output
Consequences of Inflation - correct answers -reduction in net exports
-unplanned redistribution of income
-menu costs
-shoe leather costs
-fiscal drag
-discouragement of investment
-inflationary noise
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Schoolflix. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67474 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now