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Q 1/22
Score 0
The total amount of spending on goods and services produced in an economy during a period of time
30
Aggregate Demand
Q 2/22
Score 0
The relationship between consumption and disposable income; its position depends on the other factors that affect how much households spend on consumption
30
Consumption function
22 questions
Q.
The total amount of spending on goods and services produced in an economy during a period of time
1
30 sec
Q.
The relationship between consumption and disposable income; its position depends on the other factors that affect how much households spend on consumption
2
30 sec
Q.
Total expenditure by households on domestically produced goods and services
3
30 sec
Q.
Expenditure undertaken to add to the capital stock. This spending can be done by firms or government.
4
30 sec
Q.
Spending by the government on its day to day operations. This is known as current expenditure.
5
30 sec
Q.
Value of exports minus the value of imports
6
30 sec
Q.
The relationship between the level of aggregate demand and the overall price level; it shows planned expenditure at any given possible overall price level
7
30 sec
Q.
A curve showing how much output firms would be prepared to supply in the short run at any given price level
8
30 sec
Q.
A curve showing the productive capacity of the economy
9
30 sec
Q.
The long-run equilibrium level of output to which monetarists believe the macroeconomy will always tend
10
30 sec
Q.
The unemployment rate that will exist when the economy is in long-run equilibrium
11
30 sec
Q.
A group of economists who believe that the macroeconomy always adjust rapidly to the full employment level of output, and that monetary policy should be the prime instrument for stabilising the economy
12
30 sec
Q.
A group of economists who believed that the macroeconomy could settle at an equilibrium that was below full employment
13
30 sec
Q.
A model of the economy which shows the movement of goods and services between households and firms and their corresponding payments in money terms
14
30 sec
Q.
Where money flows out of the circular flow in the forms of savings, taxation and imports
15
30 sec
Q.
Where money flows into the circular flow in the form of investment, government spending and exports
16
30 sec
Q.
A flow concept - the amount that is earned during a period
17
30 sec
Q.
A stock concept - the accumulation of assets, such as property of shares
18
30 sec
Q.
The ratio of a change in equilibrium real income to the autonomous change that brought it about; it is defined as 1 divided by the marginal propensity to withdraw
19
30 sec
Q.
The proportion of additional income that is spent on imports of goods and services
20
30 sec
Q.
The proportion of additional income that is taxed
21
30 sec
Q.
The proportion of additional income that is withdrawn from the circular flow - the sum of the marginal propensities to save, import and tax
