Macroeconomics questions

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A Levels Economics (Macroeconomics) Flashcards on Macroeconomics questions, created by lucyhacking on 26/11/2013.
lucyhacking
Flashcards by lucyhacking, updated more than 1 year ago
lucyhacking
Created by lucyhacking almost 11 years ago
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Resource summary

Question Answer
What are the components of Aggregate demand? C+I+G+(X-M)
The relationship between price and demand is... inverse
What are the factors of production? Land, labour, capital, enterprise
What is Aggregate supply determined by? Wages, tax and cost of materials
What are the 3 withdrawals in the circular flow of income? Taxation,savings,Imports
What are the 3 injections in the circular flow of income? Government spending,investment, exports
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