Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Economics AQA A-level Calculations Only > Extra Goodies > Flashcards

Extra Goodies Flashcards

1
Q

What is the current annual growth rate

A

0.1% as of 2023

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is the current quarterly rate

A

-0.3% (Q4 2023)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is the current annual growth forecast

A

0.8% (2024)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What is our output gap

A

-0.1%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What is current GDP per capita

A

£36,000

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What is total GDP

A

£2.53 billion
(79% services, 14% manufacturing, 6% construction, 1% agriculture)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What is current potential growth rate (potential growth without inflation setting in)

A

Approx. 1% - bad for UK
(prior to crisis and pandemic it was 2.5% which is good then dropped to 1.5%)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What is current unemployment rate

A

4.2%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is the current employment rate

A

74.5%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is the current economic inactivity rate

A

22.2%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What is the wage growth

A

5.6%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What is happening to the labour market

A

Loose labour market
Job vacancies are falling (less firms wanting workers )

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What is the current youth unemployment rate

A

11%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is current consumer confidence

A

Very weak
Causes: Inflation, house prices , unemployment, uncertainty, recession, etc.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Current inflation rate (CPI)

A

3.2% (core is 4.2%)
Peaked in oct 2022 at 11.1% so disinflation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is the inflation expectations from consumers & producers

A

3.3%

17
Q

Current wage growth

A

5.6%

18
Q

Size of current account deficit

A

3.2% of GDP

19
Q

How has productivity and investment been

A

Very poor since financial crisis

20
Q

Current min. Wage

A

£11.44/ hour

21
Q

Current value of £

A

Weak since Brexit (haven’t seen any improvement in CA though)

22
Q

Performance for major trading partners

A

US = strong
Euro area = stagnating

23
Q

Size of budget deficit

A

4.2% of GDP (historically high since covid)

24
Q

National debt

A

98% of GDP

25
Q

Current income tax plan

A

Frozen to 2029 (fiscal drag)

26
Q

What happened to national insurance

A

12% to 10% to 8% talk of cut to 6%

27
Q

Corporation tax

A

19 to 25%

28
Q

VAT

A

20%

29
Q

Gini coefficient

A

Increased to 0.357

30
Q

BofE base rate

A

5.25% kept steady

31
Q

Bank willingness to lend

A

Good

32
Q

Consumer and business confidence

A

Poor but business is showing positive signs
(Elections coming up)

33
Q

Saving ratio

A

10.5% historically high

34
Q

QE

A

Started 2009 and then over covid too
£895 bn

Economics AQA A-level Calculations Only (3 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions