Supply side policies flashcards
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Last updated 5:02 PM on 3/6/23
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5 Terms
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Supply side policy
A policy that aims to increase the total amount of supply in the economy through government spending.
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Economic growth
The increase in the real value of goods and services produced as measured by the annual percentage change in real GDP
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Opportunity cost
The next best alternative given up when making a choice
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Rate of unemployment
The amount of people who are able and willing to work, but cannot currently find an employer.
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Inflation
Inflation is a sustained increase in the cost of living or the general price level leading to a fall in the purchasing power of money
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Flashcards (24)