EconomicsCode 9708
Links between macroeconomic problems and their interrelatedness
What this topic asks you to be able to do
- how money's internal value is linked to its external value
- the link connecting the balance of payments to inflation
- how growth and inflation are tied to one another
- how growth and the balance of payments are connected
- the connection of inflation with unemployment: the traditional Phillips curve; the expectations-augmented Phillips curve (the short- and long-run Phillips curve)