Covab
Name that Pic
Cat e gory
MISC
What if's
100
Change in ownership from public to the private sector
ntoitiaspvria
privatisation
100
Illustrating?
PINET
100
min wage, transfer payments, progressive taxes
redistribution of income
100
Name that cat e gory:
net immigration, more women, net investment, improved education, advancements in tech
reasons to shift LRAS
100
GDP w/inflation
nominal GDP
200
Firm can change at least one FOP; but not all
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short run
200
Microeconomics results and reason why
Decrease in normal supply-no productivity
200
wages, oil prices, productivity, supply side shocks, corporate taxes
reasons to shift SRAS
200
Name that pic:
the 55--
maximum price
200
actual economic growth
AD increasing
300
good consumed w/another
tconmepmle
complement
300
Illustrating? reason?
PES elastic-perishable
300
positive, negative, luxury
YED
300
Cat e gory:
provision of public goods vs no public goods
merit goods vs low amount of consumption
overconsumption of demerit goods vs taxes
efficiencies vs benefits to society
reasons for market economies to become mixed economies
300
raising living standards, more income, higher tax revenue, lower unemployment, better healthcare, business and consumer confidence
benefits of economic growth
400
type of commodity agreement designed to limit price fluctuations
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buffer stock scheme
400
Government intervention
indirect tax
400
incomes protection, black market, surplus, unemployment on wages example, lower consumer surplus
minimum price
400
scarcity
400
better for everyone to enjoy benefits, i.e infrastructure spending
economic development
500
measure of of income inequality
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gini coefficient
500
using results in what in the economy ==reason firms
firms may use savings to increase investment resulting in increase of national income--GDP growth
500
availability of substitutes, relative proportion of income, time period
factors affecting PED
500
injections = leakages
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national income equilibrium
500
100 vs 120 price index called
GDP deflator