Application

Question 1

Annual UK growth

Answer 1

+0.1% (shows stagnation)

Question 2

quarterly growth

Answer 2

-0.3%

Question 3

output gap

Answer 3

-0.1%

Question 4

GDP per capita

Answer 4

£36000

Question 5

total GDP UK

Answer 5

£2.53tn

Question 6

Unemp 2023

Answer 6

4.2% (rising)

Question 7

employment

Answer 7

74.5%

Question 8

econ inactivity rate

Answer 8

22.2%

Question 9

wage growth

Answer 9

5.6%

Question 10

natural rate of unemp in UK

Answer 10

3.5%

Question 11

inflation (CPI)

Answer 11

3.2% (with disinflationary pressure)

Question 12

core inflation rate

Answer 12

4.2%

Question 13

CA deficit

Answer 13

3.2% of GDP in 2023

Question 14

`productivity and investmenr

Answer 14

very poor atm

Question 15

min wage

Answer 15

£11.44

Question 16

exchage rate

Answer 16

weak £, £1 = $1.24 compared to $1.40 in 2021

Question 17

budget deficit

Answer 17

4.2%

Question 18

national debt

Answer 18

98% of GDP

Question 19

bond yields

Answer 19

4.2%

Question 20

income tax bands

Answer 20

0% up to £12,570, 20%, 40%, 45% (Frozen to 2029)

Question 21

national insurance

Answer 21

12% to 10% to 8%

Question 22

corp tax

Answer 22

25%

Question 23

gini coefficient (post-tax and transfers)

Answer 23

0.357 (10th)

Question 24

BoE base rate

Answer 24

5.25%

Question 25

bank willingness to lend

Answer 25

high

Question 26

consumer and business confidence

Answer 26

low but +ve signs

Question 27

savings ratio

Answer 27

10.5%

Question 28

value of QE

Answer 28

£895bn