100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home

Other

MACRO key terms

 8 views  0 purchase

glossary of useful macro terms to be used in essays

Preview 1 out of 1  pages

  • May 5, 2024
  • 1
  • 2022/2023
  • Other
  • Unknown
All documents for this subject (49)
avatar-seller
pavansagoo
Economics glossary



Macroeconomics- The study of economics as an entirety level, for example this would include
government, financial services, and the effect on a whole country.

Economic growth- The measure of how well an economy is doing financially on average based on
groups and individuals.

GDP- Gross domestic product. How economic growth is measured based on the average total
output.

Unemployment- The amount of people (percentage figure) that does not work.

Claimant count- Due to being unemployed, the amount of people that claim financial benefits.

Inflation- The percentage in which the average cost of living increases by.

CPI- Consumer price index. The average of the price of daily goods.

Balance of payments- This is the transactions of everything in a country to do with goods, services,
and payments to other countries, considering exports too.

PPF- Production possibility frontier. Examines scarcity of resources based on the combination of
output.

Recession- A period (2 quarters) where the economy is declining in growth.

Deflation- This is the reverse of inflation and the cost of average living based of necessary goods
decreases.

Disinflation- Slowing down the rate of inflation so the cost-of-living decreases.

Trade deficit- A trade deficit is where there is a negative net balance in international transactions
between a country. Likely to be from import/exportation.

Trade surplus- The opposite of trade deficit and where a country’s exports exceed its imports.

Exchange rate- This is the rate at which all currencies are worth in countries across the world.

Trade off- A decision based on a situation where something may be compromised because it can’t
gain anything in return. For example, the government might borrow more money and pays off this
international debt by increasing taxes.

Balanced budget- This is when spending is equal to a total government tax receipt.

National debt- The total at which the government of a country has borrowed and therefore is due
debt.

Inequality- This can be regional inequality where there is an unequal distribution of wealth in areas
of a country, for example north/south UK divide. There could also be a major difference in
opportunities for a particular area.

Equilibrium- In economic situations such as supply and demand the two are at a balance.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

Quick and easy check-out

You can quickly pay through credit card for the summaries. There is no membership needed.

Focus on what matters

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 pavansagoo. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £0.00. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

53340 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now

Start selling
Free
  • (0)