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Ryan Jones
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Decks in this class (39)
Classical Aggregate Supply, Aggregate Demand (AS/AD) Model- SR and LR
What is the shape of the short ru...,
What is the shape of the long run...,
What happens in the short run whe...
10
cards
Keynesian Aggregate Supply/ Aggregate Demand (AS/AD)
How does the keynesian as curve d...,
Why is the keynesian as curve hor...,
What does the horizontal part of ...
15
cards
Short Run Phillips Curve
Who was aw phillips and what did ...,
What does the short run phillips ...,
Why is the srpc downward sloping 3
30
cards
Long Run Phillips Curve
What does the long run phillips c...,
Why is the lrpc vertical 2,
How does the economy return to yf...
18
cards
Law of Comparative advantage
What is absolute advantage in int...,
What is comparative advantage 2,
State the law of comparative adva...
20
cards
Comparative Advantage- Consuming Beyond the PPC
What does it mean to consume beyo...,
Ack and jill production possibili...,
Opportunity cost jack 3
8
cards
Criticisms of Comparative Advantage- Patterns of Trade Reasons
What is a major assumption of com...,
How do transport costs distort co...,
How do economies of scale affect ...
10
cards
Benefits of Free Trade
What is free trade 1,
Benefit 1 efficiency and resource...,
Benefit 2 access to goods not pro...
13
cards
Reasons for Protectionism
What is protectionism 1,
What is the infant industry argum...,
What is dumping and how does prot...
11
cards
Tariff- Trade Protectionism
What is a tariff 1,
What happens to the domestic supp...,
In a free trade diagram what does...
16
cards
Trade Tariff- Detailed Analysis
What is a tariff 1,
Immediate effect of a tariff on t...,
How does a tariff affect the quan...
20
cards
Protectionism- Evaluation
Define protectionism 1,
Market distortion argument agains...,
Production inefficiency criticism 3
12
cards
World Trade Organization (WTO)- Aims and Roles
What is the wto 1,
Core aim of the wto 2,
Principle 1 non discrimination 3
18
cards
Current Account of the Balance of Payments
What is the current account 1,
Current account structure what ar...,
Trade in goods 3
15
cards
Balance of Payments (Current Account, Financial account and Capital Account)
What is the balance of payments b...,
What are the three main component...,
What is the capital account 3
13
cards
Causes and Consequences of a Current Account Deficit
What are the main demand side cau...,
How does a strong exchange rate c...,
What are key supply side causes o...
15
cards
Current Account Deficit Consequences
What is a current account deficit...,
How does a cad affect aggregate d...,
What are the macroeconomic conseq...
16
cards
Current Account Deficit- Expenditure Reducing and Expenditure Switching Policies
What are expenditure reducing pol...,
Examples of expenditure reducing ...,
What are the drawbacks of expendi...
27
cards
Current Account Surplus- Causes and Consequences
What are demand side causes of a ...,
What are supply side causes of a ...,
How can a current account surplus...
8
cards
International Competitiveness
What is international competitive...,
What is price competitiveness 2,
What is non price competitiveness 3
10
cards
Policies to improve international competitiveness
What type of policies are most us...,
Which supply side policies improv...,
Which supply side policies improv...
9
cards
Floating Exchange Rate changes- Appreciations and Depreciations
What happens during a currency ap...,
Causes of currency appreciation 2,
What happens during a currency de...
7
cards
Fixed Exchange Rates- How are they managed?
What is a fixed exchange rate 1,
How do governments manage a fixed...,
What are foreign currency reserve...
6
cards
Impact of Exchange Rate Appreciations and Depreciations with Eval
What happens when a currency appr...,
What happens when a currency depr...,
How can we evaluate the effects o...
7
cards
Marshall Lerner Condition and J curve Effect
What is the marshall lerner condi...,
Why does the mlc matter 2,
What is the j curve effect 3
3
cards
PPP- (Purchasing Power Parity) Exchange Rates
What is purchasing power parity p...,
What does ppp suggest about over ...,
What is the formula for ppp excha...
6
cards
Fixed vs Floating Exchange Rates (Arguments For and Against)
What is a fixed exchange rate 1,
What is a floating exchange rate 2,
Advantages of floating exchange r...
14
cards
Economic Integration and Trading Blocs
What is economic integration 1,
What is a trading bloc 2,
What is a bilateral or multilater...
12
cards
Trade Diversion
What is trade diversion 1,
What is the economic effect of tr...,
Why might trade diversion happen ...
4
cards
Monetary Union- Advantages and Disadvantages of joining the Eurozone
What is a monetary union 1,
Advantages of joining the eurozone 2,
Disadvantages of joining the euro...
4
cards
Globalization
What is globalisation its causes ...,
Causes 2,
Benefits 3
5
cards
Terms of Trade
Formula 1,
Example index 2,
Factors that change tot demand su...
6
cards
Terms of Trade Analysis
Erms of trade tot analysis key po...,
Price elasticity of demand for ex...,
Relative inflation 3
5
cards
Crowding Out Effect (Fiscal Policy Evaluation)
Crowding out effect 1,
1 2,
2 3
7
cards
Quantitative Easing
Quantitative easing qe key points 1,
1 2,
2 3
7
cards
Import Quota- Trade Protectionism
Import quota how it works 1,
The effect of imposing a quota 2,
The result 3
8
cards
Import Quota- Detailed Analysis
Import quota detailed analysis l41 1,
Key areas 2,
Domestic supply increases 3
9
cards
Trade Subsidy- Trade Protectionism
What is a trade subsidy 1,
Effects on the market using suppl...,
Benefits of trade subsidy 3
4
cards
Trade Subsidy- Detailed Analysis
Graph overview 1,
Revenue changes 2,
Deadweight loss dwl 3
4
cards
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Economics Macro Y2
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