Key Economic Indicators (LC 2027) (Leaving Cert Business): Flashcards
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Economic indicators
Economic indicators
Statistics measuring economy's performance
Inflation
Inflation
Sustained increase in general price level
Consumer Price Index (CPI)
Consumer Price Index (CPI)
Tracks price changes of typical basket of goods/services
Interest rates
Interest rates
Cost of borrowing money or return for saving money
Who influences Ireland's interest rates
Who influences Ireland's interest rates
European Central Bank (ECB)
Full employment rate in Ireland
Full employment rate in Ireland
96-98% of labour force employed
Labour force
Labour force
People aged 16-65 working or available for work
GDP vs GNP for Ireland
GDP vs GNP for Ireland
GDP: within borders; GNP: by Irish firms (better indicator)
Effect of weak euro on Irish exports
Effect of weak euro on Irish exports
Makes exports cheaper for foreign buyers
Consumer confidence
Consumer confidence
How optimistic consumers feel about economic conditions