Macro Data Flashcards
1
Q
Why is the end of the cold war a factor which led to globalisation
A
The end of the cold war between Russia & the West in 1990 opened up former communist countries around the world enlarging the global supply of labour e.g. more than 800,000 people migrated from East Germany to West Germany between 1990 and 1991
2
Q
What is the UK’s inflation target rate
A
2%
3
Q
What is the unemployment rate in Zambia
A
4.3% unemployment rate
4
Q
What do Zambia export most of
A
According to the factor abundance model, Zambia export copper.
5
Q
Stats on Zambia debt default to China
A
Zambia owed Chinese creditors nearly $6 billion of the total of $17 billion external debt at the end of 2021.
Debt to GDP ratio is 57%
