macroeconomics Flashcards
Useful facts about the UK and global economy to use in essays
how many rulings has the WTO made since 1995
350
how much of Argentina is in poverty
50%
average yearly rate of return on assets
5.3%
access to internet - UK
95%
access to internet - India
30%
yearly energy consumption - UK
2764 kg oil per person
yearly energy consumption - India
673 kg oil per person
population in agriculture - India
44%
life expectancy at birth - India
63
India Corp. tax in 1990
dropped from 50% to 40%
how much aid did Kenya recieve from the UK in 2016
$650 million
what % of women work in Iran
17%
what % of women work in Tanzania
79%
what happened in Bangladesh in 1971
liberation war and a cyclone
how much debt relief did the world bank give Burundi in 2009
$883 million
how much did the IMF give to support Greece in the European credit crisis
$146 billion
what was the result of Denis Healey’s policies
financial crisis in 1976 and had to borrow $3.9 billion from IMF
how much does the Japanese government spend on pensions
10% GDP
how much does the Botswana government spend on pensions
less than 1% GDP
what proportion of Botswana’s population is under 15
1/3
how much does the Botswana government spend on education
7.8% GDP
who was Addy Wagener
Wagner’s law is that an increase in incomes leads to a larger increase in demand for government goods and services so public expenditure is income elastic.
evaluation of Wagner’s law
some public services are inferior e.g. public transport
what proportion of Denmark’s population trusts the government
50%
what proportion the US population trusts the government
18%
how does poor health affect productivity in the UK
UK firms lose £77 bn a year
what is Chinas national debt
$5 trillion
what is the US national debt
$ 20 trillion
what is the UK’s national debt
$ 1.7 trillion
informal jobs in India
90%
how much of south africa is in poverty
1/4
south africa Gini Coeficient
0.63
UK minimum wage
£7.70 an hour
National living wage
£8.21 an hour
UK annual growth rate in 2018
1.4% which is the lowest rate since the recession
UK quarterly growth Q4 2018
0.2%
UK chance of a recession in 2019
BoE says 25%
UK forecast growth from 2019
1.2%, 1.4%, 1.6%, 1.6%, 1.6%
UK output gap
OBR estimates positive output gap of 0.2% GDP
UK real GDP per capita
£29,000
UK total GDP
£2 trillion
UK GDP breakdown - services
79%
UK GDP breakdown - manufacturing
14%
UK GDP breakdown - construction
6%
UK GDP breakdown - agriculture
1%
UK unemployment
3.9%