Name that Pic
Covab
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Cat and Gory
100
3 of them
price stability, low unemployment, economic growth, stable balance of payments, redistribution of income
100
the relationship between government revenue and government spending
btuedg
budget
100
consumers, investments, government spending, net exports
aggregate demand
100
quantity/quality of resources, productivity, technology, productive capacity
reasons to shift AS
200
potential growth or Aggregate supply
200
the removal of rules
dneorigtual
deregulation
200
money supply, interest rates, exchange rates
monetary policy
200
influence economic activity
reduce market failure
promote equity
pay interest on national debt
reasons for government spending
300
taxes and spending
contractionary fiscal policy
300
Industries that are important for the economic development and safety of the country
ssteritretsegudic
strategic industries
300
redistribute income from rich to poor
discourage consumption of demerit goods
raise cot of firms that impose cost (externalities)
discourage consumption of imports
influence economic activity
reasons for taxation
300
incentive to invest, more investment = more productive capacity =supply side policy=lack of confidence evaluation
cutting corporate tax
400
selling this for a profit--%rate
capital gains tax
400
being a member of the labour force
eecvoiotmcialyal
economically active
400
labour wages may be low, labour may have high productivity, government may subsidize the employment of workers, labour may be unskilled that matches the type of industry, labour may be more creative----------------better than capital
reasons firms use labour intensive rather than capital intensive
400
main categories of taxes
direct, indirect, progressive, proportional, regressive
500
decrease in tax rates leads to more
disposable income
500
the lowest level of unemployment possible, the closer to this level results in higher inflation without AS shifting
full employment
500
less tax revenue, more spending, higher national debt, increase AD on the yearly account
budget deficit
500
equity, certainty, convenience, economy, flexibility, efficiency
principles of taxation