Reaganomics Definition
Reaganomics was an economic policy in the 1980s that aimed to stimulate economic growth and job creation by reducing taxes and regulations.
Macroeconomics
The branch of economics that looks at the economy as a whole. It looks at factors which affect the wider economy rather than individuals. Examples include inflation, trade, unemployment, and economic growth.
Phillips Curve Definition and Example
The Phillips Curve is a macroeconomic concept that describes the inverse relationship between inflation and unemployment, implying that policy-makers can make trade-offs between the two.
Stagnation: Definition, Causes & Examples
In economics, stagnation is where a nation experiences an extended period of low economic growth.
Relative Poverty: Definition, Causes & Example
Relative Poverty occurs when households earn less than 60 percent of the average wage.
Frictional Unemployment: Definition, Causes & Examples
Frictional unemployment occurs in the period between leaving one job and joining another.
3 Tools of Monetary Policy
There are three main tools of monetary policy – open market operations, reserve requirements, and the discount rate. These are decided by central banks such as the Federal Reserve.
3 Types of Fiscal Policy
There are three types of fiscal policy; neutral, expansionary, and contractionary.
Exchange Rate: Definition, Causes, Effects & Types
An exchange rate is the value by which two currencies are swapped with each other.
Budget Deficit: Definition, Causes & Effects
A budget deficit is where we spend more than we receive.
Comparative Advantage: Definition, How to Calculate & Examples
When one nation is more efficient at producing a good than another. However,
