M11: Economic growth and the economic cycle

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Last updated 4:23 PM on 5/28/26
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13 Terms

1
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Define economic growth

How is it measured?

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2
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Compare short-run to long-run growth

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3
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What are the determinants of short run growth?

4
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Define long-run growth in terms of inflation

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5
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What are the determinants of long-run growth?

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6
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What are the costs/benefits of economic growth?

7
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Define economic cycle

Diagram?

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8
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Define output gaps

Define recession

Define depression

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9
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What are the causes of the stages of the economic cycle?

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10
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What are the indicators of output gaps?

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11
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What has inflation historically been in the UK?

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12
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Define demand-pull inflation

Diagram?

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13
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Define cost-push inflation

Diagram?

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