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Economic A Level > Macro Context for exams > Flashcards

Macro Context for exams Flashcards

1
Q

Countries with Low interest rates

A

Switzerland
Japan
Sweden

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2
Q

Countries with High interest rates

A

Brazil
Rwanda

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3
Q

Countries with Low income tax

A

United Arab Emirates
Monaco
UK
USA

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4
Q

Countries with High income tax

A

Japan
Sweden

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5
Q

Countries with Low corporation tax

A

Switzerland
Hungary
Ireland

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6
Q

Countries with High corporation tax

A

Australia
Canada
Germany

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7
Q

Countries with Weak exchange rate

A

Iranian Rial
Vietnamese Dong
Rouble

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8
Q

Countries with High exchange rate

A

The Pound
US dollar
Swiss Franc
Euro

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9
Q

Commodity price high

A

Agricultural chemicals
Energy
Industrial metals

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10
Q

Countries with Cyclical unemployment

A

The great recession after the financial crisis of 2008
South Africa

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11
Q

Countries with Structural unemployment

A

India
Eurozone

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12
Q

Countries with High income inequality

A

South Africa
Zambia

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13
Q

Countries with Low income inequality

A

Slovenia
Iceland

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14
Q

Countries with Absolute poverty

A

African Nations
China

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15
Q

Countries with Relative poverty

A

UK
USA

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16
Q

Countries with Protectionism

A

Trump Tariffs
China/Japan Retaliation
EU - anti dumping tariffs

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17
Q

Countries with Current account deficit

A

US
UK
Canada

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18
Q

Countries with Current account surplus

A

Germany
Japan
China
Singapore
Ireland

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19
Q

UK Real GDP Growth

A

Low economic growth in 2000s
Dropped 9.5% in 2020
0.3% growth in January 2023
Forecast of -0.2%

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20
Q

UK unemployment rate

A

Increased to 3.9% by small amount
High during Financial Crisis

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21
Q

UK Job Vacanies

A

The number of vacancies in January to March 2023 was 1,105,000, decrease of 47,000 from October to December 2022.
Been falling for 9 consecutive quarters

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22
Q

UK Youth Unemployment

A

The youth unemployment rate has fallen from 12.3% to 10.8%

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23
Q

UK CPI

A

Rose by 10.1% in the 12 months to March 2023, down from 10.4% in February.

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24
Q

UK Wage inflation

A

In real terms, growth in pay fell on the year in November 2022 to January 2023 by 2.4% for regular pay.

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25
Q

UK Real Income per capita

A

Expected to reach £36052.27 by the end of 2023

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26
Q

UK Mean disposable income

A

UK disposable incomes to fall by 3.8% in 2023

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27
Q

UK Fiscal Deficit

A

Current budget deficit was £10.0 billion
5.7% of GDP

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28
Q

UK National Debt

A

Public sector net debt in February 2023 was £2,507.3 billion, 99.2% of GDP
Debt-to-GDP ratio at levels last seen in the early 1960s

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29
Q

UK Yield on government bonds

A

The United Kingdom 10Y Government Bond has a 3.9% yield

30
Q

UK income tax allowance

A

Up to £12,570

31
Q

UK Corporation Tax

A

Recent years there was Corporation Tax of 19%.
April 2023: main rate of Corporation Tax is 25% for Companies with profits of £250,000 or more
A Small Profits Rate of 19% will exist for Companies with profits of £50,000 or less

32
Q

UK BOE policy rate

A

MPC announced on 23 March 2023 to increase the Bank of England base rate from 4.25% to 4.5%

33
Q

UK Mortgage interest rates

A

April 2023: The average two-year fixed-rate mortgage rate in the UK is 5.35%

34
Q

UK House prices

A

Increased by 6.3% January 2023

Down from 9.3% in December 2022
The average UK house price was £290,000 in January 2023

35
Q

UK household debt

A

People in the UK owed £1,837.4 billion at the end of January 2023.
This is up by £70.5 billion from January 2022

36
Q

UK Household Saving Ratio

A

In 2023, households are expected to save nearly 8% of income

37
Q

UK Minimum wage

A

As of 1 April, 2023, the UK minimum wage has increased to a hourly rate of £10.42

38
Q

Sterling / US Dollar exchange rate

A

Average exchange rate in 2023: 1.24 USD

39
Q

Sterling / Euro exchange rate

A

1 : 1.12

40
Q

Vietnam Annual Real GDP Growth

A

5.8%
High

41
Q

Vietnam GDP per capita

A

$14,460

42
Q

Vietnam Inflation rate

A

5%
Very high in the 1980s

43
Q

Vietnam unemployment rate

A

2.4%

44
Q

Vietnam fiscal balance

A

-3.43%

45
Q

Vietnam Government debt

A

36.3% of GDP

46
Q

Vietnam yield on Government bond

A

3.4% yield

47
Q

Vietnam Investment spending

A

33.4% of GDP

48
Q

Vietnam Gross National savings

A

36.1% in Dec 2022

49
Q

Vietnam currency

A

Dong

50
Q

Vietnam currency system

A

Managed floating exchange rate

51
Q

Vietnam policy interest rate

A

6%

52
Q

Vietnam trade agreement

A

ASEAN-Hong Kong, China Free Trade Agreement
EU-Vietnam Free Trade Agreement

53
Q

Vietnam current account balance

A

0.2%

54
Q

Vietnam corporate tax rate

A

20%

55
Q

Vietnam competitiveness rank

A

67th

56
Q

Vietnam Corruption perception ranking

A

77th out of 180 countries with a score of 42/100, where a lower score corresponds to a widespread perception of corruption in the public sector
It is below average for the region.

57
Q

Vietnam ease of doing business ranking

A

70th among 190 economies

58
Q

Vietnam external debt

A

$139 billion

59
Q

Vietnam HDI ranking

A

115th

60
Q

Vietnam malnutrition data

A

It is home to 1.8 million children under-5 who suffer from the condition.

61
Q

Vietnam % of population living in extreme poverty

A

Dropped 5%

From 16.8%

62
Q

Vietnam life expectancy

A

75.4 years (2020)

63
Q

Vietnam Gini coeffiient

A

Decreasing from 0.431 to 0.373 and is within a safe, efficient and suitable threshold for high growth

64
Q

Vietnam inward FDI

A

$15.7 billion

65
Q

Vietnam aid

A

$500 million
Big fall over last 10 years

66
Q

Vietnam main exports

A

Telephones, mobile phones (21%) and textiles (12 percent).
Computers and electrical products (12 percent);
shoes and footwear (7 percent)
Machinery, instruments and accessories (6 percent)

67
Q

UK investment levels

A

1.7%
Aim of 2%

68
Q

UK rank in international trade

A

39th

69
Q

UK rank in education

A

21st

70
Q

What is the UK gini coefficient

A

0.343

71
Q

UK current account deficit

A

4.2%

72
Q

What % of GDP for the UK came from services

A

79%

Economic A Level (22 decks)

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