Trends in macroeconomic indicators (OCR A-Level Economics): Flashcards
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13 cards from this deck
Inflation definition
Inflation definition
Sustained increase in general price level of goods & services over time
Hyperinflation rate threshold
Hyperinflation rate threshold
Often exceeding 50% per month
Unemployment definition
Unemployment definition
Without job, actively seeking work & available to start
UK financial crisis period
UK financial crisis period
2008-2009
Bank of England inflation target
Bank of England inflation target
2%
UK inflation peak year (commodity prices)
UK inflation peak year (commodity prices)
2011
UK inflation surge period (supply chain issues)
UK inflation surge period (supply chain issues)
2021-2022 due to supply chain issues & energy costs
UK unemployment status before pandemic
UK unemployment status before pandemic
Historically low levels
Cause of UK govt debt rise post-2008
Cause of UK govt debt rise post-2008
Stimulus measures & lower tax revenues
UK austerity measures period
UK austerity measures period
2010s
UK trade balance status (last 20 years)
UK trade balance status (last 20 years)
Negative with persistent current account deficits
UK 'productivity puzzle'
UK 'productivity puzzle'
Lower productivity growth despite tech & investment improvements
Brexit decision year
Brexit decision year
2016