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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
Housing Market Crash | Cause of Recession
UK, USA (2008)
26
Oil Shock/High Commodity Prices | Cause of Recession
UK (2009/2012)
27
Weak Exchange Rate | Cause of Recession
South Africa, Russia, Brazil, Turkey, Nigeria
28
Higher Sales Tax | Cause of Recession
Japan (2014)
29
Falling Commodity Prices | Cause of Recession
Nigeria, Angola, Venezuela, Russia, Brazil, Zambia
30
Stagflation
South Africa, Egypt, Nigeria, Turkey, Venezuela, Argentina
31
Benefits of Growth
China, India, Thailand, Vietnam, Malaysia, Singapore, Japan, Botswana, Ireland
32
Costs of Growth
China, India, Nigeria, Angola | High rates of Inflation, Income Inequality, Environmental Issues
33
Demand Pull Inflation
China, UK, USA
34
Cost Push Inflation
UK, South Africa, Turkey, Argrentina
35
GOOD Deflation
UK, Eurozone, Switzerland
36
BAD Deflation
Japan, Greece
37
Costs of Inflation
Argentina, Brazil, UK
38
Cyclical Unemployment
Eurozone, South Africa (26% in recession)
39
Structural Unemployment
Eurozone, India, UK | Too similar degrees
40
Real Wage Unemployment
UK (due to increased living wage), Germany, Eurozone
41
Costs of Unemployment
Eurozone, Greece, Spain, Italy
42
Income Inequality (Low Gini)
Norway, Denmark, Sweden, Finland
43
Income Inequality (High Gini)
Nigeria, Angola, Botswana, South Africa
44
Absolute Poverty
African Nations (Zimbabwe, Burundi, Ethiopia), China, India
45
Relative Poverty
UK, USA
46
Lower Interest Rates | Monetary Policy
Brazil, South Africa, Russia, India
47
Higher Interest Rates | Monetary Policy
USA, Canada, UK (Raising to normalise) Turkey, Argentina (Raising to combat Inflation)
48
Quantitative Easing | Monetary Policy
USA (pulling back), UK, Eurozone, Japan
49
Negative Interest Rates | Monetary Policy
Japan (-0.1%), Sweden (-0.25%), Denmark (-0.65%), Switzerland (-0.75%) (Just central back interest rates for commercial banks)
50
Fiscal Expansion (Increase in Government Spending) (Fiscal Policy)
Japan, China, USA
51
Austerity | Fiscal Policy
UK, Ireland (stopped around 3 years ago, very successful), Portugal, Greece, Italy, Spain, France
52
Tax Cuts | Fiscal Policy
UK (Income Tax cuts) | USA (Corporation Tax cuts)
53
Tax Rises | Fiscal Policy
Australia, UK (VAT, 2010), Japan
54
Globalisation Winners
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
Globalisation Losers
Sub-Saharan Africa (Primary commodity dependence, corrupt governments, protectionism), South America (Similar, Import substitution), North America (Asian countries found comparative advantages, causes unemployment)
56
Protectionism
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
Current Account Deficit
UK, USA, India
58
Current Account Surplus
China, Germany, Netherlands, Norway, Singapore, EU Nations
59
Fixed Exchange Rate
UAE, Bolivia
60
Managed Exchange Rate
China
61
Successful Market Based Approach | Development
India, China, South-East Asian Countries, Botswana, Tanzania, Mauritius
62
Failed Market Based Approach | Development
Nigeria, Angola, (Ghana) | Corrupt governments
63
Interventionist Approach
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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