Macroeconomic Indicators

Question 1

Consumer Price Index

Answer 1

Basket of goods with each good weighted.

Question 2

CPIH

Answer 2

CPI plus owner-occupier housing costs.

Question 3

Retail Price Index

Answer 3

Different basket of goods and different formulae to CPI. Includes mortgage interest payments and council tax.

Question 4

Claimant Count

Answer 4

The number o people claiming New Style Job Seekers Allowance. (Unemployed or work less than 16 hours a week).

Question 5

Labour Force Survey

Answer 5

Quarterly survey of 60,000 households by the . Have actively sought work in the last four weeks, and are able to start within two.

Question 6

Balance of Payments

Answer 6

A record of a country’s trade/transactions with the rest of the world.

Question 7

The Current Account

Answer 7

Trade in goods, services, Investment income, Transfers

Question 8

The Financial and Capital Account

Answer 8

Transactions in financial assets, Investment flows, Government transactions

Question 9

Investment Income

Answer 9

Generated by UK owned overseas assets.

Question 10

Productivity

Answer 10

Output/Input

Question 11

Inflation Definition

Answer 11

The rate of change in the average price level over time.

OR The sustained increase in the cost of living/fall in the purchasing power of money.

Question 12

Macroeconomic Indicators

Answer 12

How the government measures the achievement of their aims.