1213 Grade 12 Economics Concept List Periodic T2 Wk11


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Unformatted text preview: inion on Prices and wages. See table attached. 4. What is meant by crowding out? Unit 18.5 5. According to Keynesians: ‐ How can full employment be reached? Unit 17.3 ‐ View of monetary policy as a stabilization tool. Unit 17.3 and see table attached ‐ Opinion on Prices and wages. See table attached ‐ Is equilibrium always at full employment? Unit 17.3, 5th bullet point. 6. Monetarists’ view on: ‐ Inflation and what causes inflation. Unit 17.6 7. Supply side view on: ‐ The use of tax: higher tax rates or lower tax rates. Unit 17.10 8. Distinguish between national debt and PSBR. Unit 18.1 9. What is meant by fiscal policy, give different examples? Unit 18.2 10. What are the systems of exchange rate? Fixed, free floating managed and dirty managed. Unit 2...
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