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Theme 2: The UK economy
National income 2.4
equilibrium levels
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Subdecks (2)
a) The concept of equilibrium real national output
Paper 2- UK economy performance & policies > Theme 2: The UK economy > National income 2.4 > equilibrium levels
21 cards
part b- use of AD/AS diagrams
Paper 2- UK economy performance & policies > Theme 2: The UK economy > National income 2.4 > equilibrium levels
74 cards
Cards (97)
what's the equilibrium position of national output?
e
AD
and
AS curves
intersect.
If either
AS
or
AD
are
shifted
, then the
equilibrium position
will
change
what does the size of the change depend on?
depend on
size
of
shift
and
elasticity
of the
curve
that
hasn't moved
See all 97 cards
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