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macroeconomics definitions

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AS - Level economics (macroeconomics) Flashcards on macroeconomics definitions, created by luc rah on 25/04/2016.
luc rah
Flashcards by luc rah, updated more than 1 year ago
luc rah
Created by luc rah over 8 years ago
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Question Answer
AGGREGATE DEMAND
Image: 18cf0fa9-5876-429f-b23b-a9d21b684739 (image/jpg)
total amount of planned spending in an econ at any given price level at a point in time
AGGREGATE SUPPLY
Image: 38021c40-3b9c-4501-8d0e-15565e205a6d (image/jpg)
total supply of G + S produced within an econ at a given overall price level in a given time period
ACCELERATOR EFFECT when an increase in NI (GDP) results in a proportionately larger rise in capital investment spending. In other words, we see a surge in capital spending by businesses when an economy is growing quite strongly
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