Brainscape's Knowledge GenomeTM

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


See full index

econ case studies > macro case studies > Flashcards

macro case studies Flashcards

1
Q

what is the current uk base rate?

A

0.75% (check if up to date it will change)

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

what is an example of a very high interest rate?

A

argentina = around 45% (check)

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

why is argentina’s interest rates so high?

A

because their cpi inflation is expected to be almost 50% by the end of 2022 while economic growth is only forecasted to be 2%

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

what country has the highest savings ration?

A

Qatar = 58%

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

what is the UKs savings ratio

A

the savings ration surged from 5% to 25% during the first lockdown

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

who has one of the highest national debts?

A 
Japan = 257% of GDP
Sudan = 210% of GDP
Greece = 207% of GDP
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

who has one of the highest trade deficits? and surpluses?

A

the USA had a trade deficit of almost a trillion dollars in 2020 while China had surplus of over $500bn in 2020

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

who has the highest per capita disposable income?

A

USA with about $55,000 per capita

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

who has one of the highest income taxes?

A

Japan with around 56% income tax

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

who has one of the highest corperation taxes?

A

Venezuela with it being around 34%

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

what was the USs fiscal deficit in 2021

A

around $2.8 trillion

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

what was the the UK’s forecasted growth looking like in 2022

A

the highest out of all the g7 countries

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

explain the link between the canadian dollar and the price of oil

A

canada is the worlds 4th largest producer of oil so when oil dropped around 60% from mid 2014 to 2015, so did the canadian dollar

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

how have oil prices increased since 2020?

A

they have increase 5x that of the low in 2020

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

give an example of austerity measures in the UK

A

the uk government cut £30bn worth of spending towards social services, housing subsidies and welfare payments from 2010 to 2019

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

what did japan experience in the 90s

A

they experienced a “lost decade” where there was stagnation and deflation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

give an example of hysterisis and explain what is it

A

hysterisis is where the effect of something keeps happening even after the cause has gone. in 1981, unemployment rose to 3 million people due to the recession, a form of cyclical unemployment. But, unemployment kept on rising all the way until 1986, suggesting that this cyclical unemployment turned into structural unemployment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

how has USAs gini coefficient changed over time

A

their gini coefficient has continued to rise since the 1990s

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

how much has the UK quantitative eased?

A

they have bought almost £900bn worth of bonds using QE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

what have been the effects of trump’s tariffs?

A

Trump enforced tariffs which, as of 2020, were on almost 17% of all imported goods to the US. according to forbes, the total stock market return of these tariff announcements was -10%. it also led to a large increase in consumer costs of around $50bn. many countries also imposed retaliatory tariffs including China, who imposed $34bn worth of retaliatory tariffs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

how has vietnam’s economic growth been in the 21st century

A

they have recorded more than 5% growth annually for every year this century until the pandemic

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

how has vietnams trade balance changed?

A

they have only started to run a trade surplus since 2010

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

what is vietnams gini coefficient

A

it has stayed around the mid 30s since the 90s

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

how has vietnams unemployment trended?

A

it has not gone above 3% in this century

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

what is the levels of fdi in vietnam?

A

the accumulated stock of FDI is almost $400bn spread over 33,000 projects

26
Q

who imports the most from vietnam?

A

the US buys the most of vietnams exports. 51% go to asia and 26% go to north america

27
Q

what is vietnams largest export?

A

in 2020, just under half of all vietnams exports were machinery equipment

28
Q

how does vietnam rank for competitiveness

A

vietnam is often in the top half of the world in competitiveness

29
Q

what is their fiscal deficit?

A

around 4% of GDP in 2022

30
Q

what is their current account?

A

5.5% surplus of their GDP

31
Q

how much did real GDP fall over pandemic

A

it dropped 9.5% in 2020 but recovered 6.8% in 2021

32
Q

how many jobs are currently unfilled?

A

1.2 million vacant jobs

33
Q

what is the current rate of youth unemployment?

A

11% - london = 18%

34
Q

what is the CPI inflation rate early 2022?

A

in january, it got tto around 6% but IMF expect it to reach around 8%

35
Q

what was the wage inflation rate end of 2021?

A

around 4.5%

36
Q

what was mean disposable income in 2020-21?

A

around £35,000

37
Q

what was uk fiscal deficit in 2020?

A

12.5% of GDP. biggest post war deficit

38
Q

what was the increase in national debt from 2019 to 2020

A

about a 25% increase

39
Q

how much did the government increase corperation tax by

A

19% to 23% for companies with profits more than £250,000 in 2023

40
Q

how much did average house prices rise in 2021

A

10%

41
Q

what is household debt in 2021

A

2 trillion, double that of 2003

42
Q

how much has Africa’s intra regional trade change?

A

it has doubled from 6% to 12% from 1990 to 2011

43
Q

what does singapore have which is considered to be the best

A

-they have the worlds largest port

44
Q

what are singapore’s restrictions on trade

A

they have one of the lowest tariff rates in the world, thus contributing to export led growth

45
Q

what is singapore’s gini coefficent

A

in 2020, it was 0.35, around the same value as the UKs

46
Q

what is their highest income tax rate?

A

it is only around the low 20%s, about under half of the UKs highest

47
Q

what is singapore’s national debt to GDP ratio?

A

it was around 130% of GDP in 2021, much higher than the UKs, but their credit rating is still AAA

48
Q

what has their economic growth rate been like due to high export led growth?

A

from 1961 to 1991, GDP per capita growth was on average around 10% a year

49
Q

how has FDI helped the transfer of skills?

A

between 1970 and 1980, when ESSO came to singapore, the % of top management being local went from 0% to 75%

50
Q

what is the UKs current unemployment?

A

3.8% - this is below the natural rate of unemployment of around 4%, suggesting a positive output gap

51
Q

what % of the uk economy is services?

A

around 80%

52
Q

what has happened to economic inactivity rate in the UK?

A

-it has risen about 1.5% to 21.4%

53
Q

why are there job vacancies in the UK?

A

employment rate has fallen to around 75%, suggesting people are leaving the work force

54
Q

how has the UK prevented structural unemployment?

A

-the offered the furlough scheme to prevent firms and industries from closing down, thus keeping long term unemployment at just 1%

55
Q

what is evidence that the UK is experiencing cost-push inflation?

A

producer price inflation is almost 12%

56
Q

how low is UK productivity?

A

about 20% below the average of the other g7 countries

57
Q

how has inequlity increased in the UK?

A

0.34 in 2010 to 2020, but now it is 0.36

58
Q

How much of world GDP do emerging markets and developing countries hold?

A

58%

59
Q

What is singapores exports to gdp ratio?

A

About 170%

60
Q

How much do taxes reduce the gini coefficient?

A

In 2018, the gini coefficient before taxes was around 0.46, after tax, disposable income gini coefficient was reduced to around 0.34

econ case studies (4 decks)

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