AQA -AS Macro Economics COMPREHENSIVE
QUESTIONS AND VERIFIED ANSWERS
(DETAILED & ELABORATED) ACTUAL EXAM
2025 TEST 100% SOLVED 2026!
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Practice questions for this set
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Terms in this set (78)
Inflation The rate of increase in the general price level
over a given period of time. In the UK the target
is 2% CPI.
Economic Growth This occurs when, over time, an economy
expands its capacity to produce goods and
services. In the UK trend rate of growth is 2.5% in
GDP every year.
, Gross Domestic Product (GDP) The value of al goods and services produced
within an economy over a given period of time
Recession A decline in the level of economic activity (as
measured by a fall in GDP) that occurs over a six
month period or longer
Real GDP GDP data adjusted to remove the effects of
inflation
Unemployment Rate The percentage of the labour force, willing and
able to work, seeking work but unable to get a
job.
Balance of Payments This records transactions between UK residents
and the rest of the world
Current Account of the Balance of This records transactions in good and services
Payments between UK residents and the rest of the world
Distribution of income This measures how a nations total income is
spread between that country's inhabitants
Economic Inactivity This refers to people who are not in employment
and who are not actively looking for work, eg
stay at home parents
Real GDP per capita The average income per person in a country after
allowing for the effects of inflation
Nominal GDP This measures the value of all goods and services
that are produced in an economy over a given
period of time, using their price at the time of
production.
QUESTIONS AND VERIFIED ANSWERS
(DETAILED & ELABORATED) ACTUAL EXAM
2025 TEST 100% SOLVED 2026!
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Terms in this set (78)
Inflation The rate of increase in the general price level
over a given period of time. In the UK the target
is 2% CPI.
Economic Growth This occurs when, over time, an economy
expands its capacity to produce goods and
services. In the UK trend rate of growth is 2.5% in
GDP every year.
, Gross Domestic Product (GDP) The value of al goods and services produced
within an economy over a given period of time
Recession A decline in the level of economic activity (as
measured by a fall in GDP) that occurs over a six
month period or longer
Real GDP GDP data adjusted to remove the effects of
inflation
Unemployment Rate The percentage of the labour force, willing and
able to work, seeking work but unable to get a
job.
Balance of Payments This records transactions between UK residents
and the rest of the world
Current Account of the Balance of This records transactions in good and services
Payments between UK residents and the rest of the world
Distribution of income This measures how a nations total income is
spread between that country's inhabitants
Economic Inactivity This refers to people who are not in employment
and who are not actively looking for work, eg
stay at home parents
Real GDP per capita The average income per person in a country after
allowing for the effects of inflation
Nominal GDP This measures the value of all goods and services
that are produced in an economy over a given
period of time, using their price at the time of
production.
