AS level Economics Revision

4. A fall in GDP over a period of at least six months
5. A tax that takes a higher percentage from the rich
6. The total amount that producers in an economy are willing and able to supply at a given time period
9. Increases in the price level caused by increases in the costs of production
10. The charge for borrowing money and the reward for saving money
14. The total output produced in an economy over a given time period
17. A record of money flows coming in and going out off a country
19. When AD equals AS and real GDP is not changing
21. Products sold abroad
22. A tax that takes a greater percentage from the poor
24. A sustained fall in the general price level
25. A tax on imports

1. When imports is greater than exports
2. The time and effort spent trying to counter-act the effects of inflation
3. Central bank or Government decisions on the rate of interest, the money supply and the exchange rate.
7. The protection of domestic industries from foreign competition
8. When exports is greater than imports
11. The taxation and spending decisions of a government
12. A limit on imports
13. A payment usually from a government to encourage production or consumption of a product
15. People's incomes being dragged into higher tax bands as a result of inflation
16. The total demand for a country's goods and services at a given time period
18. The cost of changing prices due to inflation
19. An economic system in which resources are allocated through both the private and public sector
20. Products bought from abroad
23. The price of one currency in terms of another