AQA•A-Level•Economics
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How the Macroeconomy Works
AD/AS model, multiplier, and transmission mechanisms
Practice 48 subtopics in How the Macroeconomy Works. All questions match the AQA A-Level specification.
About How the Macroeconomy Works
How the Macroeconomy Works is a key topic in the AQA A-Level Economicsspecification. This topic covers ad/as model, multiplier, and transmission mechanisms.
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InjectionsInvestmentGovernment spendingExportsWithdrawals (leakages)SavingsTaxationImportsEquilibrium in circular flowComponents of ADConsumption (C)Investment (I)Government spending (G)Net exports (X-M)AD curveShifts in ADConsumption functionAverage propensity to consume (APC)Marginal propensity to consume (MPC)Determinants of consumptionWealth effectsInterest ratesConsumer confidenceAverage propensity to save (APS)Marginal propensity to save (MPS)Determinants of savingGross vs net investmentDeterminants of investmentInterest ratesBusiness confidenceAnimal spiritsAccelerator theoryRate of economic growthShort-run aggregate supply (SRAS)Long-run aggregate supply (LRAS)Keynesian LRASClassical LRASShifts in SRASShifts in LRASAD/AS equilibriumChanges in equilibriumDemand-side shocksSupply-side shocksThe multiplier conceptMultiplier formulaSize of multiplierFactors affecting multiplierMarginal propensities
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