Study Terms Flashcards

1
Q

Employment levels

A

All the Labour Force which is all working people. If more people are working the economy is doing good and income is higher

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2
Q

Interest rates

A

Interest rates are The cost of borrowing money expressed as a percentage of the amount borrowed or they are rewarded for money saved. IF the interest rate is high there will be less borrowing and spending and if its bow there will be more borrowing and Spending.

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3
Q

National debt

A

The total amount of money that a countries goverment has borrowed. Tax may incense because of it and people will have to buy less goods and servees. Which is bad for businesses

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4
Q

National income

A

Is the tatal value of all new goods and services producted within a Country in a year.

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5
Q

Economic growth

A

Occurs when there is an increase in quality of goods and services produced from one year to the next

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6
Q

Inflation

A

A sustainable increase in the level of prices of goods and services from one year to the next it is caused be the increasing of goods and services

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