Key Economic Indicators (Leaving Cert Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What percentage of the labour force is employed when Ireland reaches full employment?
What percentage of the labour force is employed when Ireland reaches full employment?
96-98%
What age range defines the labour force in Ireland?
What age range defines the labour force in Ireland?
16-65
What is a key effect of high unemployment on government finances?
What is a key effect of high unemployment on government finances?
Revenues fall, welfare spending rises
What does the Consumer Price Index (CPI) measure?
What does the Consumer Price Index (CPI) measure?
Price changes in a basket of goods
What causes demand-pull inflation?
What causes demand-pull inflation?
Demand rises but supply can't keep up
Which institution primarily influences interest rates in Ireland?
Which institution primarily influences interest rates in Ireland?
European Central Bank (ECB)
What typically happens to consumer spending when interest rates are low?
What typically happens to consumer spending when interest rates are low?
Spending increases on major purchases
What is the key difference between GDP and GNP for Ireland?
What is the key difference between GDP and GNP for Ireland?
GDP is within borders, GNP by Irish firms
How does a weak euro affect Irish exports?
How does a weak euro affect Irish exports?
Makes them cheaper for foreign buyers
What effect does low inflation have on consumer confidence?
What effect does low inflation have on consumer confidence?
Increases disposable income & confidence