Macro Revision

2. A fall in the rate of inflation
6. A rise in the average price level
9. One measurement for inflation
10. An increase in the level of GDP over time
11. Economists who believe that LRAS is perfectly inelastic
14. demand Equal to C+I+G+(X-M)
15. Changes to fiscal policy which happen without deliberate changes
16. A fall in the average price level
17. Changes to fiscal or monetary policy which result in an increase in AD
18. People of working age who are without work, available for work, and actively seeking employment

1. Fiscal policy changes that need to be made by changes to policy
3. Changes to government spending and taxation
4. This is the difference between the full employment level of output and actual output
5. Changes to interest rates and the money supply
7. Policies designed to shift LRAS to the right
8. Total spending on goods and services in a given period of time at a given price level
12. Changes to fiscal or monetary policy which result in a fall in AD
13. Where any increase in AD will result in a proportionately larger increase in national income