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Macroeconomics questions

Description

A Levels Economics (Macroeconomics) Flashcards on Macroeconomics questions, created by lucyhacking on 26/11/2013.

Flashcards by lucyhacking, updated more than 1 year ago

	Created by lucyhacking about 11 years ago

Resource summary

Question	Answer
What are the components of Aggregate demand?	C+I+G+(X-M)
The relationship between price and demand is...	inverse
What are the factors of production?	Land, labour, capital, enterprise
What is Aggregate supply determined by?	Wages, tax and cost of materials
What are the 3 withdrawals in the circular flow of income?	Taxation,savings,Imports
What are the 3 injections in the circular flow of income?	Government spending,investment, exports

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