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Edexcel Economics 5. The UK Economy - Income, Growth, Policy

In this quiz the answers change every time you play! Guess the terms that fit these definitions
Answer must correspond to highlighted box!
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robalot39
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Last updated: September 10, 2019
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First submittedAugust 18, 2019
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Description
Term
One of the three pairs between withdrawal and injection, relating to consumers and firms
Investment and Saving
The phenomenon whereby gross domestic product fluctuates around its underlying trend, following a regular pattern
Trade/Business Cycle
One of the three pairs between withdrawal and injection, relating to government
Government Spending and Taxation
Where the benefits and opportunities provided by economic growth are incurred by every section of society
Inclusive Growth
Those two things, the cutting of which, can be both a market-based supply-side policy as well as a fiscal policy as it can increase aggregate supply, in alphabetical order
Benefits and Taxes
That position on the government's budget which slows growth as withdrawals exceed injections
Surplus
That which is measured by averaging together the income paid by firms, total output, and total expenditure
Gross Domestic Product
A process whereby a central bank creates more money (mostly electronically) which it uses to buy financial assets (mostly government bonds) from investment companies which save the money, increasing bank deposits and thus the availability of credit, boosting investment and consumption
Quantitative Easing
Those countries, of which it is debated as to whether they should concentrate their resources on achieving economic growth or improving people's basic needs
Developing Countries
The accumulation of government borrowing
Net Debt
Growth that does not compromise the living standards of future generations
Sustainable Economic Growth
A measure of output per unit of capital
Capital Productivity
That the supply of which would be increased by investment in education and training, thereby leading to economic growth
Human Capital
That, the opportunity cost of which is to forego more consumer goods in the short term, much more noticeable in developing countries due to the small amount of existing spare capacity
Investment
That body, influence in the form of voting power at which is much affected by a country's economic growth
International Monetary Fund
Measures that make changes to government spending, taxation, and thus borrowing, carried out by HM Treasury
Fiscal Policy
The ease and cost with which assets can be turned into cash and used immediately as a means of exchange
Liquidity
That type of policy, the primary concern of which is in regards to the government budget deficit or surplus and the taxation and spending that created it
Fiscal Policy
Where the effects of economic growth are distributed between sectors, regions, consumption and investment, &c. in a balance way
Balanced Growth
The two flows from households to firms in the circular flow, in alphabetical order
Expenditure and Factor Services
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