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Rpe and Economica > Economic (Facts and Statistics) > Flashcards

Economic (Facts and Statistics) Flashcards

1
Q

China GDP

A

$18.5 trillion (2024)

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2
Q

China GDP Rank

A

2nd

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3
Q

GDP by sector

A

Agriculture: 7.1%
Industry: 38.3%
Services: 54.6%

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4
Q

net export

A

Net exports: 3.22%

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5
Q

China Inflation (CPI)

A

1.69% (2024)

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6
Q

China boasts the world’s largest high-speed rail network, covering how much

A

38,000 kilometres

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7
Q

China HDI

A

0.788 As of 2021

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8
Q

Corruption in China

A

Central Commission for Discipline Inspection (CCDI) has led to high-profile anti-corruption campaigns, targeting both “tigers” (senior officials) and “flies” (lower-level bureaucrats). 42 index

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9
Q

For example, in 2020, despite the challenges posed by the COVID-19 pandemic FDI

A

$163 billion

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10
Q

State Intervention and state-owned enterprises

A

generated 40% of China’s GDP of US$15.97 trillion in 2020

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11
Q

Central African Republic GDP

A

$2.32 billion 2019

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12
Q

CAR GDP rank

A

163rd (nominal, 2019)

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13
Q

CAR GDP by sector

A

agriculture: 43.2%
industry: 16%
services: 40.8%

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14
Q

Population below the poverty line

A

66% on less than $1.90/day

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15
Q

CAR Exports and Imports

A

$113 million (2017 est.)
$393 million (2017 est.)

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16
Q

CAR Foreign reserves

A

$304 million

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17
Q

According to the World Bank, CAR’s trade-to-GDP ratio

A

stood at around 40% in 2019, reflecting the limited scale of international trade relative to the size of the economy

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18
Q

CAR Corruption

A

Transparency International’s Corruption Perceptions Index 2020, CAR scored 18 out of 100

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19
Q

CAR Financial

A

With less than 1% of the total population holding a bank account, access to financial services is extremely limited in the CAR. Microfinance accounts only for 1% of the total credit facilities, serving 0.5 percent of the population.

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20
Q

CAR investment

A

Central African Republic (CAR) Ministry of Transport and Civil Aviation has plans to invest $523 million into transport infrastructure that potentially allows for private sector investment.

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21
Q

Five big problems of the Resource curse

A

Dutch disease focuses on how exporting a large number of lucrative resources will lead to appreciation and other goods and services being uncompetitive

Enclave effects focus on labour and investment. primary goods have little to no knowledge and economic spillover or effects and actually, employ less labour than industrial sectors.

Financial volatility- this change can heavily impact government debt and finance. (Business/FDI confident)

Government Failure- corruption and continuous reinvestment in the same industry and human capital. (Because it is the most lucrative for the government in the short term)

Prebisch-Singer Hypothesis

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22
Q

Sovereign Wealth Fund two function

A

Reduce Fluctuation for government and financial institutions to provide a cushion for future periods when either resource prices or supplies decline significantly or suddenly. Pula Fund (4.1bn)/safeguard against budgetary deficits.

Diversification and investment- The Nigeria Infrastructure Fund is expected to secure investments in the infrastructural development of the country in areas such as agriculture and other government-directed projects. (2.56bn) Nigeria Sovereign Investment Authority

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23
Q

HSBC profit and capital reserve

A

31bn and 113bn

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24
Q

Minsky Hypothesis

A

Prolong financial stability, banks become complacent and higher levels of risks for lending/ speculative bubble. excessive borrowing

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25
Q

Northern Rock

A

Failed in 2007, the good part bought by virgin money

26
Q

Credit Crunch

A

A situation in which there is a sudden reduction in the availability of credit or loans from financial institutions to businesses and consumers. Reduced investment and in the case of the 2008 financial crisis leads to a further decrease in house pripricesd the value of assets for banks.

27
Q

Stress test

A

e.g. fall in real GDP by 5%

28
Q

UK Bond Yield

A

3.95%

29
Q

countercyclical buffer

A

The idea behind the countercyclical capital buffer is as follows: in times of excessive credit growth, banks are required to build up an additional capital buffer. This buffer generally increases the loss-absorbing capacity of banks. In times of crisis, banks are explicitly allowed to use up the buffer and to use it to mitigate losses. This is aimed at preventing a credit crunch.

30
Q

Failure of Dynamic efficiency in monopoly

A

Thames Water involved only 15 out of 83 works in the area which needed to have their capacity increased now. Report of high E.coli in water

31
Q

Supermarket shares

A

27.4% Tesco
14.8% Sainsbury
13.7%ASDA

32
Q

Price War

A

Prosecco prices falling due to Lidl and Aldi competition 2017

33
Q

non-price competition

A

Tesco Club Card Brand Loyalty, increase preference and decrease elasticity

34
Q

Failed Merger

A

Soon after the merger, multitudes of Nextel executives and mid-level managers left the company, citing cultural differences and incompatibility. Sprint was bureaucratic; Nextel was more entrepreneurial. Nextel was attuned to customer concerns; Sprint had a horrendous reputation in customer service. (communication)

35
Q

When looking at a micro question understand the question, look at all the PED, XED and YED.
Then look at the producer side, then probably price decrease, due to this change in demand or supply, less supernormal profit or deterioration of profit, leading to shutdown, as there is less producer surplus. Probably less investment or something along the lines of this. If there is a demand increase then the economic scale
Evaluation is probably talking about XED is shit or whatever

A

OK

36
Q

Productivity

A

output per hour worked increased by 0.3% in Quarter 2 2023 to 2022

37
Q

UK National Income Rise

A

On 1 April 2024, the UK’s National Minimum Wage (to apply to workers aged 21 and over) rises by 9.8% to £11.44 per hour.

38
Q

Relative Productivity in G7 in the UK

A

4th

39
Q

Economic Inactivity in the UK

A

22% and over 3 million of them is due to medical problem

40
Q

Working Poverty in UK

A

62%

41
Q

China and UK GNI

A

37 32.4

42
Q

Successful Merger

A

Disney purchased the animation studio Pixar for 7.4 billion dollars.

43
Q

Monopoly power on search engine

A

As of February 2024, Google dominates the top search engines, with a market share of 91.62%.

44
Q

Google on not allocative efficient and achieving supernormal profit

A

Google Ads Cost Per Lead Has Increased for 91% of Industries YoY

45
Q

Cabbage Girl on Protectionism

A

Trade Secretary Liz Truss have warned against “green protectionism”,
Chancellor Rishi Sunak is looking at a carbon border adjustment tax, which will slap levies on goods arriving from abroad.

Such taxes aim to prevent wealthy countries such as the UK from outsourcing their carbon emissions to the developing world by bringing in cheap imports produced with – known as “carbon leakage”.

46
Q

Carrot Boy in Protectionism

A

Donald Trump imposed tariffs on steel (25%) and aluminium (10%) from most countries

47
Q

Contestability

A

Dyson entering the electric car market

48
Q

UK Growth rate

A

0.1

49
Q

UK Unemployment

A

4.2%

50
Q

UK Wage growth

A

5.6%

51
Q

UK Inflation

A

3.2%

52
Q

UK Interest rate

A

5.2%

53
Q

UK National debt

A

98.6%

54
Q

Current Account Deficit

A

3.3%

55
Q

UK GDP and Service Component

A

3 trillion and 79%

56
Q

Gini Coefficient

A

0.357

57
Q

Corp Tax

A

25%

58
Q

Training Scheme

A

The national retraining scheme has been integrated with the government’s new £2.5bn national skills fund.

59
Q

US Drug and Pharma monopoly

A

Americans paid $460 billion for prescription drugs

60
Q

Investment by Monopoly

A

Roche biggest drug companies invest 30.9% of revenue

Rpe and Economica (4 decks)

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