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6 Cards in this Set
- Front
- Back
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Actual Economic Growth |
The rate of growth of GDP in a period |
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Aggregate Demand |
The total amount of spending on goods and services produced in an economy during a period of time |
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AD curve |
The relationship between the level of AD and the overall price level |
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Automatic Stabilisers |
Effects by which the government expenditure adjusts to offset the effects of recession and boom without the need for active intervention |
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Average propensity to consume |
The proportion of income that households devote to consumption |
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Balance of Payments |
A set of accounts showing transactions conducted between resident of a country and the rest of the world |
