1213 Grade 12 Economics Concept List Periodic T2 Wk11

Marketsare flexibleandthe invisiblehand forcesare

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Unformatted text preview: ples? Unit 18.2 Give examples of expansionary and contractionary fiscal policies. Unit 18.3 Compare monetary and fiscal policy and their effectiveness. Unit 18.7‐18.8 What is meant by demand management? 18.9 What is meant by terms of trade? Unit 19.3 What is a quota? Unit 19.5 Why do governments use protectionist measures? Unit 19.6 38. Argument against the use of protectionist measures. Unit 19.7 39. Draw a diagram showing the market for $ in terms of pound sterling. Equilibrium is 1$ = 0.65 sterling pounds. Exampleon page 226 bottom. 40. Who are speculators? Unit 19.3 41. What is the Marshall Lerner condition? Unit 21.14 Gov. Intervention Prices & Wages Fiscal Policy Classicals No to Govt. intervention. Markets are flexible and the invisible hand forces are sufficient. Govt. role is only to maintain law/order. Imperfections in the...
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This document was uploaded on 02/27/2014.

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