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A Level Economics > Macro Examples > Flashcards

Macro Examples Flashcards

1
Q

Low Interest Rates

A

UK (0.75%), Eurozone (0%), Japan (-0.1%)

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2
Q

High Interest Rates

A

USA (2.5%), Argentina (71.57%)

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3
Q

High Consumer Confidence

A

USA, Australia, China

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4
Q

Low Consumer Confidence

A

UK, Russia, Greece

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5
Q

High House Prices

A

Switzerland, South Korea, Japan

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6
Q

Low Indebtedness

A

Germany (60.9%), Russia (13.5%)

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7
Q

High Indebtedness

A

UK (84.7%), USA (105.4%), Japan (253%)

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8
Q

High Real Disposable Income

A

USA, Australia, Switzerland, Norway

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9
Q

Low Real Disposable Income

A

Brazil, Russia, Venezuela

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10
Q

Low Income Tax

A

UK, USA

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11
Q

High Business Confidence

A

Sweden, South Korea, France

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12
Q

Low Business Confidence

A

UK, New Zealand

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13
Q

Low Corporation Tax

A

Ireland (12.5%), Hong Kong (16.5%), Singapore (17%)

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14
Q

High Corporation Tax

A

Australia (30%), Japan (30.86%), France (33.3%)

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15
Q

Fiscal Expansion

A

Japan, China, USA, Hong Kong

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16
Q

Austerity

A

UK, Spain, Greece, Italy, France, Portugal

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17
Q

Weak Exchange Rate

A

Pound, US Dollar, Euro, Rial

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18
Q

Strong Exchange Rate

A

Yen, Australian Dollar

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19
Q

Commodity Prices High

A

Oil, Gas/Electricity, Food

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20
Q

Wages Higher

A

UK, Eurozone, USA

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21
Q

Higher Sales Tax

A

UAE, UK (2010), Japan (2014)

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22
Q

Financial/Banking Crisis

Cause of Recession

A

USA, UK, Eurozone (Cyprus, Spain, Italy, Greece)

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23
Q

Financial/Banking Crisis

Cause of Recession

A

USA, UK, Eurozone (Cyprus, Spain, Italy, Greece) (2008/2009)

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24
Q

Increased Interest Rate

Cause of Recession

A

Russia (2014), South Africa (2016)

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25
Q

Housing Market Crash

Cause of Recession

A

UK, USA (2008)

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26
Q

Oil Shock/High Commodity Prices

Cause of Recession

A

UK (2009/2012)

27
Q

Weak Exchange Rate

Cause of Recession

A

South Africa, Russia, Brazil, Turkey, Nigeria

28
Q

Higher Sales Tax

Cause of Recession

A

Japan (2014)

29
Q

Falling Commodity Prices

Cause of Recession

A

Nigeria, Angola, Venezuela, Russia, Brazil, Zambia

30
Q

Stagflation

A

South Africa, Egypt, Nigeria, Turkey, Venezuela, Argentina

31
Q

Benefits of Growth

A

China, India, Thailand, Vietnam, Malaysia, Singapore, Japan, Botswana, Ireland

32
Q

Costs of Growth

A

China, India, Nigeria, Angola

High rates of Inflation, Income Inequality, Environmental Issues

33
Q

Demand Pull Inflation

A

China, UK, USA

34
Q

Cost Push Inflation

A

UK, South Africa, Turkey, Argrentina

35
Q

GOOD Deflation

A

UK, Eurozone, Switzerland

36
Q

BAD Deflation

A

Japan, Greece

37
Q

Costs of Inflation

A

Argentina, Brazil, UK

38
Q

Cyclical Unemployment

A

Eurozone, South Africa (26% in recession)

39
Q

Structural Unemployment

A

Eurozone, India, UK

Too similar degrees

40
Q

Real Wage Unemployment

A

UK (due to increased living wage), Germany, Eurozone

41
Q

Costs of Unemployment

A

Eurozone, Greece, Spain, Italy

42
Q

Income Inequality (Low Gini)

A

Norway, Denmark, Sweden, Finland

43
Q

Income Inequality (High Gini)

A

Nigeria, Angola, Botswana, South Africa

44
Q

Absolute Poverty

A

African Nations (Zimbabwe, Burundi, Ethiopia), China, India

45
Q

Relative Poverty

A

UK, USA

46
Q

Lower Interest Rates

Monetary Policy

A

Brazil, South Africa, Russia, India

47
Q

Higher Interest Rates

Monetary Policy

A

USA, Canada, UK
(Raising to normalise)
Turkey, Argentina
(Raising to combat Inflation)

48
Q

Quantitative Easing

Monetary Policy

A

USA (pulling back), UK, Eurozone, Japan

49
Q

Negative Interest Rates

Monetary Policy

A

Japan (-0.1%), Sweden (-0.25%), Denmark (-0.65%), Switzerland (-0.75%)
(Just central back interest rates for commercial banks)

50
Q

Fiscal Expansion
(Increase in Government Spending)
(Fiscal Policy)

A

Japan, China, USA

51
Q

Austerity

Fiscal Policy

A

UK, Ireland (stopped around 3 years ago, very successful), Portugal, Greece, Italy, Spain, France

52
Q

Tax Cuts

Fiscal Policy

A

UK (Income Tax cuts)

USA (Corporation Tax cuts)

53
Q

Tax Rises

Fiscal Policy

A

Australia, UK (VAT, 2010), Japan

54
Q

Globalisation Winners

A

Asian Tigers (India, China, Japan, South Korea, Thailand, Vietnam, Malaysia, Singapore) (Rapid increases in HDI and GDP per capita), Eurozone, Gulf States (UAE, Qatar, Saudi Arabia)

55
Q

Globalisation Losers

A

Sub-Saharan Africa (Primary commodity dependence, corrupt governments, protectionism), South America (Similar, Import substitution), North America (Asian countries found comparative advantages, causes unemployment)

56
Q

Protectionism

A

US - Trump Tariffs (Chinese and Japanese Steel and Aluminium (25% tariff), Japanese washing machines and cars)
China/Japan Retaliation (Soy beans, Harley Davidson bikes)
EU - Anti-Dumping Tariffs (Imports of Chinese solar panels and steel), Illegal Airbus Subsidies ($22bn)

57
Q

Current Account Deficit

A

UK, USA, India

58
Q

Current Account Surplus

A

China, Germany, Netherlands, Norway, Singapore, EU Nations

59
Q

Fixed Exchange Rate

A

UAE, Bolivia

60
Q

Managed Exchange Rate

A

China

61
Q

Successful Market Based Approach

Development

A

India, China, South-East Asian Countries, Botswana, Tanzania, Mauritius

62
Q

Failed Market Based Approach

Development

A

Nigeria, Angola, (Ghana)

Corrupt governments

63
Q

Interventionist Approach

A

Relative success: Rwanda, Ethiopia (Government spending gone to health and education)
Failure: Zimbabwe, Zambia, Burundi
(Authoritarian governments) (Income growth very low with intervention)

A Level Economics (12 decks)

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