Chapter -1 Defintions Flashcards
1
Q
What is the abbreviation of SPICED
A
STRONG POUND IMPORTS CHEAPER EXPORTS DEARER
2
Q
Fiscal policy Definition
A
How governments generate income through tax Tati on and spend it on public project and the public center
3
Q
Inflation definition
A
The general rise in prices over time
4
Q
Interest rates definitions
A
The reward for saving and the cost of borrowing expressed as a percentage.
5
Q
Exchange rate Definitions
A
The rate of a currency can be converted into another
6
Q
Exports definition
A
The sale of goods to another country
7
Q
Disposable income definition
A
The money that a person has left over after essentials have been payed etc tax and mortgage
