PPC(production possibility curve:show the maximum quantities of different combinations of output of two productsOpportunity cost:the next best alternative foregone
Elasticity:the extend to buyers and sellers respond to a market conditions
Unemployment:people are out of work but willing and able to work
Inflation:a sustained rise in the price level
Economic growth:an increase in real GDP,in the maximum output that the economy can produce
Exchange rate:the price of one currency in terms of another currency
fiscal policy:the taxation and government spending decisions of a government
monetary policy:decision on the interest rate the money sullpu and exchange rate
supply-side policy:policy to increase aggregate supply
AD:the total goods and service in period of time
AS :the total amount that producers in an economy willing and able to supply
1 comment:
what a waste of time it was giving you a revision pack - you have not followed it at all.
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