This class was created by Brainscape user Liam Livo. Visit their profile to learn more about the creator.
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Liam Livo
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Decks in this class (15)
UNIT 3 AOS 1
Relative scarcity 1,
Needs 2,
Wants 3
40
cards
UNIT 3 AOS 2
Material living standards 1,
Non material living standards 2,
Difference between non material a...
68
cards
Unit 3 AOS 3
Cause of current account deficit ...,
Terms of trade meaning 2,
Factors that influence terms of t...
8
cards
Sources of government revenue
Direct tax 1,
Indirect tax 2,
Top 3 revenue in the 2021 2022 fe...
3
cards
Government expenses
Government current expenditure 1,
Government capital expenditure 2,
Transfer payments 3
4
cards
The budget outcome
Balance budget 1,
Budget surplus 2,
Budget deficit 3
3
cards
Ways a government can finance a deficit or utilise a surplus
Ways to finance a deficit 1,
Crowding out 2,
Utilising a surplus 3
3
cards
Relationship between budget outcome and level of government debt
Relationship between budget outco...
1
cards
Automatic stabilisers
Automatic stabilisers 1,
Automatic stabilisers in influenc...
2
cards
Discretionary stabilisers
Discretionary stabilisers 1,
Discretionary stabilisers in infl...
2
cards
Budgetary stance
Budgetary stance 1,
Expansionary budget stance 2,
Contractionary budget stance 3
3
cards
Budget initiatives in past 2 years and their effect on macroeconomic goals
Jobkeeper 1,
Further personal income taxes 2,
Health spending 3
6
cards
Strengths and weaknesses of budgetary policy
Strengths 1,
Weaknesses 2
2
cards
U4AOS1 - Monetary Policy
Monetary policy 1,
The role of the rba with respect ...,
Transmission mechanisms cost of c...
16
cards
U4 AOS2
Aggregate supply policies 1,
Technical efficiency 2,
Allocative efficiency 3
16
cards
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Economics
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