Real Gross Domestic Product (GDP) and how it can
be used to measure economic growth. GDP per head
(capita).
-
Meaning of recession and how a recession moves the
economy within its PPC. -
How changes in total demand may increase the
utilisation of resources and GDP resulting in a
movement from inside toward the PPC. -
How economic growth shifts the economy’s PPC to
the right and is caused by changes in investment,
technology, and the quantity and quality of the
factors of production. -
The costs and benefits of economic growth in the
context of different economies. -
The range of policies available to promote economic
growth and how effective they might be.
Review of Unit 4
Questions and suggested answers
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IGCSE Macroeconomics (Units 4 - 6)
4.1 the role of government 4.2 macroeconomic aims of government 4.3 fiscal policy 4.4 monetary policy 4.5 supply-side policy 4.6 economic growth 4.7 employment and unemployment 4.8 inflation and deflation 5.1 living standards 5.2 poverty 5.3 population 5.4 differences in economic development 6.1 international specialisation 6.2 globalisation, free trade and protectionism 6.3 current account of the balance of payments 6.4 foreign exchange rate
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Unit 4 Government and the macroeconomy - (IGCSE Macroeconomics)
The macroeconomic aims of government Fiscal policy Monetary policy Supply-side policy Economic growth Employment and unemployment Inflation and deflation
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