Edexcel A Level Economics A:复习笔记2.5.2 Output Gaps
Actual Growth & Long-term Growth Actual growth can be differentiated from the idea of long-term trends in growth rates A long-term growth trend is the underlying trend rate of economic growth o...
Edexcel A Level Economics A:复习笔记2.5.1 Causes of Growth
Causes of Economic Growth Economic growth can occur in the short-run or long-run and each is explained differently Short-run Economic Growth Changes to any of the components of aggregate demand (AD...
Edexcel A Level Economics A:复习笔记2.4.4 The Multiplier
The Multiplier The multiplier ratio is the ratio of change in real income to the injection that created the change E.g. If the UK government injected an additional £5m into the economy through gove...
Edexcel A Level Economics A:复习笔记2.4.3 Equilibrium Levels of Real National Output
Real National Output Equilibrium Short-run Equilibrium Real national output equilibrium occurs where aggregate demand intersects with aggregate supply A diagram showing the Classical short-run equi...
Edexcel A Level Economics A:复习笔记2.4.2 Injections & Withdrawals
Injections & Withdrawals Money can enter or leave the circular flow of income in an economy Injections add money into the circular flow of income and increase its size Increased government spen...
Edexcel A Level Economics A:复习笔记2.4.1 National Income
The Circular Flow of Income The circular flow of income is an economic model that illustrates money flows in an economy There is a simple model which shows the money flows between households and fi...
Edexcel A Level Economics A:复习笔记2.3.3 Long-run AS
Keynesian Versus Classical Long-run AS Long run aggregate supply (LRAS) is influenced by a change in the productive capacity of the economy Productive capacity is changed by changes to the quantity...
Edexcel A Level Economics A:复习笔记2.3.2 Short-run AS
Factors Influencing Short-run AS There are multiple factors that can influence the short-run aggregate supply (SRAS). These include: Changes in costs of raw materials and energy Changes in exchange...
Edexcel A Level Economics A:复习笔记2.3.1 Characteristics of AS
The Aggregate Supply (AS) Curve Aggregate supply is the total supply of goods/services produced within an economy at a specific price level at a given time A diagram showing the upward sloping shor...
