Government Aims Flashcards
MACRO V MICRO ECONOMIC AIMS
Compare Macro v Micro Economic Aims
MACRO V MICRO ECONOMIC AIMS
Describe 2 MACROeconomic aims of the UK government
MACRO V MICRO ECONOMIC AIMS
Describe 2 MICROeconomic aims of the UK government
INFLATION
What is inflation?
INFLATION
Describe the meaning of real income.
INFLATION
Inflation is measured through the Consumer Price Index (CPI).
Describe how the CPI is calculated.
INFLATION
What are the two types of inflation?
INFLATION
What causes inflation?
INFLATION
What causes inflation?
INFLATION
Describe deflation.
INFLATION
Explain the impact of rising inflation on the Balance of Trade.
INFLATION
Explain the impact of inflation on INDIVIDUALS
Explain the impacts on consumers of a FALL in their REAL INCOME
INFLATION
Explain the impact of inflation of FIRMS
INFLATION
Explain the impact of inflation on GOVERNMENTS / ECONOMY
INFLATION
What measures will the Government adopt to CONTROL inflation?
INTEREST RATES
Explain the impact of an increase in Interest Rates on INDIVIDUALS
INTEREST RATES
Explain the impact of an increase in Interest Rates on FIRMS
(UN)EMPLOYMENT
What is Unemployment?
(UN)EMPLOYMENT
How is the Unemployment RATE calculated?
(UN)EMPLOYMENT
Describe two methods of calculating unemployment
(UN)EMPLOYMENT
Describe the positive and negative effects of high levels of unemployment on an economy.
(UN)EMPLOYMENT
Draw a graph showing CYCLICAL unemployment
(UN)EMPLOYMENT
What are the main types of Unemployment?
GROWTH
What is Economic Growth?
GROWTH
What is a recession?
GROWTH
Economic growth using DEMAND SIDE policies
GROWTH
Economic growth using SUPPLY SIDE policies
GROWTH
Discuss the costs and benefits of economic growth
GROWTH
Describe reasons for economic growth being a government objective.
GROWTH
Describe, using a diagram, the stages of the business cycle (trade cycle).
GROWTH
Explain the effects of economic growth on unemployment
CONFLICT
