Macroeconomics
Aggregate demand and aggregate supply
Aggregate demand (AD) The total planned expenditures (spending) by households, firms, government ...
Demand-side policies
Governments earns revenue primarily from: Taxes (direct and indirect) Sale of goods and services...
Economic growth
Economic growth An increase in the total output of goods and services (real GDP) in an economy ov...
Inequality
Inequality & equity Equality in distribution of income = a narrow wealth gap Equity in distributi...
Inflation
Inflation A persistent increase in the average price level in the economy, usually measured throu...
Supply-side policies
Supply-side policies Supply-side policies aim at increasing potential output (the overall product...
The level of overall economic activity
The circular flow of income model A simple model of the economy showing flows of goods and servic...
Unemployment
Aggregate demand for labor (ADL) The total demand for all the labor that produce an economy’s goo...