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A-Level Economics > Synoptic Revision > Flashcards

Synoptic Revision Flashcards

1
Q

SPECIALISATION AND TRADE COUNTRY PROFILE: UAE

MICRO POINT:

Q. Evaluate the micro and macro effects of trade deals (think comparative advantage).

A

FACT: IN 2019 169 MILLION INTTERNATON MIGRANT WORKERS IN THE WORLD

POINT: INCREASE IN LABOUR MIGRATION LEADS TO AN OUTWARD SHIFT IN LABOUR SUPPLY IN SPECIFIC INDUSTRY. HELP CONTROL WAGE COSTS FOR FIRMS.

ANALYSIS: DESCRIBE EXTENSION IN LABOUR SUPPLY (QUIZLET)

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2
Q

SUPPLY OF LABOUR PROFILE: MIGRATION

MICRO POINT:

Q. Evaluate micro and macro effects of inward migration.

A

FACT: IN 2019 169 MILLION INTTERNATON MIGRANT WORKERS IN THE WORLD

POINT: INCREASE IN LABOUR MIGRATION LEADS TO AN OUTWARD SHIFT IN LABOUR SUPPLY IN SPECIFIC INDUSTRY. HELP CONTROL WAGE COSTS FOR FIRMS.

ANALYSIS: DESCRIBE EXTENSION IN LABOUR SUPPLY (QUIZLET)

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3
Q

SUPPLY OF LABOUR PROFILE: MIGRATION

MICRO CB:

Q. Evaluate micro and macro effects of inward migration.

A

FACT: ECONOMIST DAVID FREDERICK SCHLOSS IN 1891 ARGUED LABOUR WASNT FIXED

CB: LUMP OF LABOUR FALLACY(QUIZLET)

ANALYSIS: NET MIGRATION LEADS TO BOTH EXPANSION IN SUPPLY AND DEMAND SO WAGES STAY CONSTANT (QUIZLET)

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4
Q

SUPPLY OF LABOUR PROFILE: MIGRATION

MACRO POINT:

Q. Evaluate micro and macro effects of inward migration.

A

FACT: SERVICE SECTPORMAIN EMPLOYER OF GLOBAL MIGRANT WOKERS, EMPLOYING 66% OF WORKERS

POINT: INCREASES LRAS AND AD AND LEADS TO IMPROVED ECONOMIC GROWTH AND THE FURTHER IMPLICATIONS (QUIZLET)

ANALYSIS: DESCRIBE EXTENSION IN LRAS AND AD AND THEIR EFFECTS (QUIZLET)

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5
Q

SUPPLY OF LABOUR PROFILE: MIGRATION

MACRO CB:

Q. Evaluate micro and macro effects of inward migration.

A

FACT: By 2010/11 this interest cost had increased to £45bn for the UK.

POINT: INCREASED GOVERNMENT FINACES THROUGH INCREASED EXPENDITURE LEADING TO MORE FORMS OF INDIRECT AND DIRECT TAXATION. MAY LEAD TO FISCAL DEFICIT AND THE IMPLICATIONS SUCH AS INCREASED AD AND DEBT INTEREST PAYMENTS

ANALYSIS: DESCRIBE EXTENSION IN LRAS AND AD AND THEIR EFFECTS (QUIZLET)

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6
Q

SUPPLY OF LABOUR PROFILE: MIGRATION

MICRO POINT:

Q. Evaluate micro and macro effects of inward migration.

A

FACT: IN 2019 169 MILLION INTTERNATON MIGRANT WORKERS IN THE WORLD

POINT: INCREASE IN LABOUR MIGRATION LEADS TO AN OUTWARD SHIFT IN LABOUR SUPPLY IN SPECIFIC INDUSTRY. HELP CONTROL WAGE COSTS FOR FIRMS.

ANALYSIS: DESCRIBE EXTENSION IN LABOUR SUPPLY (QUIZLET)

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7
Q

SPECIALISATION AND TRADE COUNTRY PROFILE: UAE

MICRO POINT:

Q. Evaluate the micro and macro effects of trade deals (think comparative advantage).

A

FACT: 2022, UAE AND INDIA SIGNED FREE TRADE DEAL. 140,000 SKILLED JOBS EXPECTED IN UAE

POINT: LABOUR MARKET - EXTRA SKILLED MIGRANTS HELP ALLEVIATE SKILL SHORTAGES AND CONTROL WAGE INFLATION - LOWERS UNIT LABOUR COSTS (EXTENSION IN LABOUR SUPPLY) (QUIZLET)

ANALYSIS: DESCRIBE EXTENSION IN LABOUR SUPPLY (QUIZLET)

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8
Q

SPECIALISATION AND TRADE COUNTRY PROFILE: UAE

MICRO CB:

Q. Evaluate the micro and macro effects of trade deals (think comparative advantage).

A

FACT:

POINT:

ANALYSIS:

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9
Q

SPECIALISATION AND TRADE COUNTRY PROFILE: UAE

MACRO POINT:

Q. Evaluate the micro and macro effects of trade deals (think comparative advantage).

A

FACT:

POINT:

ANALYSIS:

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10
Q

SPECIALISATION AND TRADE COUNTRY PROFILE: UAE

MACRO CB:

Q. Evaluate the micro and macro effects of trade deals (think comparative advantage).

A

FACT:

POINT:

ANALYSIS:

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11
Q

DEMAND FOR LABOUR COUNTRY PROFILE: VIETNAM

MICRO POINT:

Q. Evaluate the likely micro and macro effects of a rise in minimum wage rates in countries such as Vietnam.

A

FACT:

POINT:

ANALYSIS:

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12
Q

DEMAND FOR LABOUR COUNTRY PROFILE: VIETNAM

MICRO CB:

Q. Evaluate the likely micro and macro effects of a rise in minimum wage rates in countries such as Vietnam.

A

FACT:

POINT:

ANALYSIS:

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13
Q

DEMAND FOR LABOUR COUNTRY PROFILE: VIETNAM

MACRO POINT:

Q. Evaluate the likely micro and macro effects of a rise in minimum wage rates in countries such as Vietnam.

A

FACT:

POINT:

ANALYSIS:

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14
Q

DEMAND FOR LABOUR COUNTRY PROFILE: VIETNAM

MACRO CB:

Q. Evaluate the likely micro and macro effects of a rise in minimum wage rates in countries such as Vietnam.

A

FACT:

POINT:

ANALYSIS:

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15
Q

EXTERNALITIES PROFILE: IMF

MICRO POINT:

Q. Evaluate the likely micro and macro effects of a Carbon Tax.

A

FACT:

POINT:

ANALYSIS:

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16
Q

EXTERNALITIES PROFILE: IMF

MICRO CB:

Q. Evaluate the likely micro and macro effects of a Carbon Tax.

A

FACT:

POINT:

ANALYSIS:

17
Q

EXTERNALITIES PROFILE: IMF

MACRO POINT:

Q. Evaluate the likely micro and macro effects of a Carbon Tax.

A

FACT:

POINT:

ANALYSIS:

18
Q

EXTERNALITIES PROFILE: IMF

MACRO CB:

Q. Evaluate the likely micro and macro effects of a Carbon Tax.

A

FACT:

POINT:

ANALYSIS:

A-Level Economics (14 decks)

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