Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

MACRO APPLICATION > THEME 4 > Flashcards

THEME 4 Flashcards

1
Q

Overdependence on exports

A

Saudi Arabia oil and gas sector makes up 50% of real GDP

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Overdependence on imports

A

UK reliance on Russia for gas imports - now problem due to war

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Globalisation improving living standards

A

In 1950, 75% of world in absolute poverty, now less than 10%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Structural unemployment

A

Hartlepool and steel, now most china produced in steel

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Dumping

A

2018 Chinese washing machines and American washing machine firms (whirlpool) - 30% tariff imposed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Quota

A

Algeria car quota 83,000 (to protect domestic car industry)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Protect infant industries

A

Malawi 2006 - agricultural input subsidy programme

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Health and Safety regulations

A

After fukushima nuclear disaster, Taiwan imposed health and safety regulations on imports from Japan, due to contamination of food

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Common external tariff

A

EU tariff of 30% on milk from NZ

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Current account deficit

A

UK £111bn in 2016

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Con of capital and financial account

A

US owe China $1.2trn via government bonds

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Depreciation

A

June 2016 (brexit) £1 from $1.48 to $1.20

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Cons of competitive devaluation

A

currency war - thailand and china 1994 (china devalued, thailand responded)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Number of people in absolute poverty

A

2013 estimated over 767 million

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Corruption

A

70% of the $1.3bn aid to Somalia had disappeared 2011

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Income inequality

A

US average CEO paid 271 times more than average production worker 2017

17
Q

World bank

A

lent £833m (due to high shipping costs and thus little profit in Burundi) and also debt relief

18
Q

IMF

A

$147bn bailout to Greece 2010

19
Q

Brexit - students

A
  • EU students enrolling in UK halved since Brexit
  • £9000 fees and student finance available now up to £38000
20
Q

Fiscal deficit

A

UK £318bn (14.7% of GDP) (pandemic 2020-21)

21
Q

FDI

A

Microsoft opened tech hubs in Kenya, Nigeria

22
Q

FDI relocation (footloose)

A

Apple shifted manufacturing of iPhone 13 away from China to Chennai in India

MACRO APPLICATION (3 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions