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Macroeconomic Activity (Business cycle (Peak (High rates of economic…

- - - - Factors that can influence AD levels:
        
        Changes in general levels of prices
        
        Disposable income
        
        Interest rates
        
        Consumer confidence
        
        Business confidence
        
        The exchange rate
        
        Rates of overseas economic growth
    - - The wealth effect
      - The interest rate effect
      - International competitiveness
- - - - Real GDP is measured using the Chain Volume Measure which involves using last year's prices to determine growth in production. The Chain Volume Measure is used by the ABS.
- - - - Changes in general levels of prices
      - Quantity of the factors of production
      - Quality of the factors of production
      - Costs of production
      - Technological change
      - Productivity growth
      - Exchange rates
      - Climatic conditions