Slatt

Question 1

Difference between GDP and GNP

Answer 1

Gross domestic product is amount of goods and services produced in the uk by uk and non uk citizens
Gross national product the value of goods and services produced by only uk citizens but anywhere in the world

Question 2

Claimant count

Answer 2

People who are eligible to claim job seekers allowance
Out of work
Available for work and seeking employment aged 18-66
Less than 16000 in savings

Question 3

ILO survey

Answer 3

Survey of 60000 people 
Those without any job in the four weeks and able to start work in next two weeks 
Aged 16-60
Leaves less people out 
Can compare to Europe

Question 4

What makes you eligible for Claimant count

Answer 4

Out of work
Available for work
Seeking employment
Aged 18-66
Less than 16k in savings

Question 5

Phillips curve

Answer 5

Theory claims that with economic growth leads to more jobs and less unemployment. This causes inflation

Question 6

Phillips curve graph

Answer 6

Relationship between inflation(y) and unemployment(x)

Question 7

Long run Phillips curve

Answer 7

Returns to natural employ,ent

Question 8

Benefit cap

Answer 8

Limit on the total amount of benefits you can get

Question 9

Business parks

Answer 9

Government spend money building business parks and offering incentives for businesses to go there
Eg tax breaks good local schools training grants