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http://www.bized.ac.uk Aggregate Demand and Supply Copyright 2005 – Biz/ed http://www.bized.ac.uk Aggregate Demand and Supply Copyright 2005 – Biz/ed http://www.bized.ac.uk Aggregate Demand (AD) Copyright 2005 – Biz/ed http://www.bized.ac.uk Consumption Expenditure • • • • • Tax rates Wage increases Credit Interest rates Wealth – – – – Property Shares Savings Bonds Copyright 2005 – Biz/ed http://www.bized.ac.uk Investment Expenditure • • • • Machinery Equipment Buildings Infrastructure Copyright 2005 – Biz/ed http://www.bized.ac.uk Government Spending • • • • • • • • Defence Health Social Welfare Education Foreign Aid Regions Industry Law and Order Copyright 2005 – Biz/ed http://www.bized.ac.uk Import Spending (negative) • Goods and services bought from abroad Copyright 2005 – Biz/ed http://www.bized.ac.uk Export Earnings (Positive) • Goods and services sold abroad Copyright 2005 – Biz/ed http://www.bized.ac.uk Key Variables Copyright 2005 – Biz/ed http://www.bized.ac.uk Macroeconomic Policy Copyright 2005 – Biz/ed http://www.bized.ac.uk Fiscal Policy • Government Income (taxes and borrowing) • Government Spending Copyright 2005 – Biz/ed http://www.bized.ac.uk Monetary Policy • Interest Rates (Bank of England) Copyright 2005 – Biz/ed http://www.bized.ac.uk Aggregate Supply (AS) Copyright 2005 – Biz/ed http://www.bized.ac.uk Capacity of the Economy • • • • • • • • Costs of Production Technology Education and Training Incentives Tax regime Capital stock Productivity Labour Market Copyright 2005 – Biz/ed
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