IB Economics/Macroeconomics
- 3.1 Measuring National Income
- 3.2 Introduction to Development
- 3.3 Macroeconomic Models
- 3.4 Demand-side and Supply-side policies
- 3.5 Unemployment and Inflation
- 3.6 Distribution of Income
Key Terms
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Accelerator (HL)
Aggregate demand
Aggregate supply
Bonds
Business cycle (trade cycle)
Circular flow of income
Consumption
Cost-push inflation
Crowding out (HL)
Deflation
Deflationary gap
Demand deficient/cyclical unemployment
Demand-pull inflation
Demand-side policy
Depression
Direct taxation
Economic growth
Economic development
Expectations
Factor markets
Fiscal policy
Frictional unemployment
Full employment
Gini coefficient (HL)
Gross Domestic Product (GDP)
Gross National Product (GNP)
Human Development Index (HDI)
Indirect taxation
Inflation
Inflationary gap
Investment
Laffer curve (HL)
Long run aggregate supply (LRAS)
Lorenz curve (HL)
Monetary policy
Multiplier (HL)
Natural rate of unemployment
Net National Product (NNP)
Nominal GDP
Open market operations
Per capita GDP
Phillips curve (HL)
Product markets
Progressive taxation
Proportional taxation
Quantity theory of money
Real GDP
Real wage unemployment
Recession
Regressive taxation
Seasonal unemployment
Short run aggregate supply (SRAS)
Stagflation
Structural unemployment
Supply-side policy
Transfer payments
Underemployment
Unemployment rate
Unemployment