2016 CSEC Economics (Section 6 - Economic Management) Flashcards on Economic Growth, created by Nikolas Reece on 12/10/2016.
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Created by Nikolas Reece
almost 8 years ago
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Close
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Created by Nikolas Reece
almost 8 years ago
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The governments main economic responsibility
The governments four main macroeconomic goals are
Economic Growth
The governments main economic responsibility
The governments four main macroeconomic goals are
define economic growth
Factors which lead to economic growth
Factor causing economic decline
Define national income
The three methods of calculationg national income
The output approach
the income approach
the expenditure approach
Gross Domestic Product (GDP)
Gross National Product (GNP)
Net Property Income from Abroad
Income Inflows
Income Outflows
GDP at Factor Cost
Subsidies
Indirect tax
Investment
Fixed capital formation
Factors that influence the level of investment
define interest rates
Real GDP
Nominal GDP
GDP deflator
Informal or hidden economic activity
Business trade cycle
Contraction
Depression
expansion or recovery
advantages of economic growth
disadvantages of economic growth
Problems with a recession
