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Theme 4 Economics A Level > country profiles > Flashcards

country profiles Flashcards

(48 cards)

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1
Q

UK GDP

A

£2.7 trillion

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2
Q

UK GDP growth rate

A

0.5% in 2024, forecasted to grow in 2025

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3
Q

UK inflation - CPIT for APril 2025

A

2.3%

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4
Q

peak of UK inflation and when

A

11% Oct 2022

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5
Q

UK 2025 unemployment rate

A

4.3%

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6
Q

MP - UK interest rates

A

4.25%

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7
Q

UK government budget deficit

A

5.1% of GDP

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8
Q

UK government debt % of gdp

A

97%

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9
Q

UK current account deficit

A

3.7% of GDP

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10
Q

UK main trading partners

A

EU - 42% of exports
USA and China asw

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11
Q

UK labour market participation rate

A

79% - low - prod puzzle

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12
Q

Skills England

A

agency under department of education - adresses regional skills shortages and reforms aprenticeships
focuses on aligning voctional training with labour market gaps and increase labour flexibility

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13
Q

skills shortages vacancies UK between 2017 and 2022

A

over 500,000

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14
Q

great british insulation scheme

A

£1 bil program to improve energy efficiency in homes - expected to treat 315,000 homes
households could save £300-400 annually on energy bills

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15
Q

education investment areas UK

A

2022 - EIAs focusing on underperforming reginos - more funding to improve education standards
- 55 areas identified, 24 priority - £40mil dedicated to priority
- enhance human capital, reduce regional inequalities

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16
Q

childcare reforms UK

A

government expanding free childcare to cover children over 9 months - 30 free hours of childcare a week - facilitates return to work esp for mothers
- also lab is dd - more demand and more workers needed
- could add over 140k people to workforce over 5y

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17
Q

tax reforms affecting lab costs UK

A

Oct 2024 budget - employer NICs go up 15% on salaries over £5k
NMW up to £12.21
funding mroe spending on health, education and infrastructure
BUT could lead to higher labour costs or higher prices

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18
Q

uk median age

A

42-43

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19
Q

nepal GDP

A

$41 bil

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20
Q

nepal population

21
Q

UK HDI

22
Q

nepal HDI

23
Q

nepal gini

24
Q

uKK gini

25
south africa gini
63
26
UK population
68 mil
27
nepal economic growth rate
4.9%
28
Nepal inflatino
7.4%
29
nepal unemployment rate
4%
30
uk vs nepal underemployment rate
UK: 6.4% Nepal: 10.7%
31
UK vs Nepal poverty line - absolute and relative
UK absolute is 0.2% (below $2.15 a day) UK relative is 22% (below 60% of the median) Nepal absolute is 20%
32
Nepal remittances share of GDP
22%
33
Nepal trade deficit as a proportion of GDP
40%
34
issues concerning nepal's key characteristics
- agriculture being a major employer and share of GDP - 24% GDP, 60% of workforce - low literacy rates - 67% - brain drain - emigration - poor infrastructure - low FDI bc of political instability
35
monetary policy nepal - base rate
6.50% - BUT HS BANKS CAN PUT LOWER
36
nepal currency and exchange rate system
nepalese rupee - PEGGED TO INDIAN RUPEE
37
Nepal inflation rate todya and 10 years
4.16% now, 6/4% avg
38
nepal deficit % of gdp
9%
39
nepal debt % of gdp
40%
40
why does nepal have lower debt and deficit to gdp ratio than uk?
- nepal has a much smaller public sector and gov int - nepal has limited access to capital and regulated by WB and IMF - owe money to bretton woods so cannot spend a lot - UK special case to GFC, Covid and then energy and cost of living crisis which have affected it a lot (and NHS is special case) - nepal is fiscally constrained and underdeveloped in financial markets and relies on donors
41
nepal infrastructure issues
- roads, unreliable electricity, limited communication technology - bc of 'least cost bidding' - government saving money bu giving contracts out to cheapest bidders - cost cutting and low quality of buildings - resistance of new buildings by traditional communities - only 6% of budget in nepal goes to infrastructure and roads - recoommended to do 15% - China and INdia competing to fund nepal's infrastructure - disputes such as India won't buy energy from Nepalese plant if China funds it
42
Nepal provincial and local roads improvement plan
- US$100 million concessional loan from the International Development Association (IDA) to help improve the connectivity, efficiency, resilience, and safety of Nepal’s provincial and local road network - collaboration btween nepal and world bank - introduce several best practices including five-year performance-based maintenance, construction contracts, routine maintenance through self-help groups, community-led complimentary infrastructure, pilots on alternative means of connectivity and rural transport services, approach roads, and an online program monitoring and management system.
43
Nepal and BRI
- 10 projects all to improve infrastructure funded by China - no deal solidified yet
44
UK main exports
- machinery and transport equipment eg rolls royce (engines) and jaguar (cars) - pharmaceuticals eg astrazeneca (vaccines) - financial services eg HSBC
45
UK main imports
- machinery and electronics, e.g Apple and Samsung phones (USA and south korea) - fuel and energy, e.g. Saudi Aramco - Clothing and textiles e.g. H+M, Nike, Primark - Bangladesh
46
nepal main exports
- animal and vegetable oils e.g. palm oil from CG foods - textiles and garments - tea and herbal products - pharma
47
Nepal main imports
- petroleum products - diesel, petrol, kerosene - Indian Oil Corporation - Machinery and equipment - China, India and Japna - Automobiles and parts - South Korea and India - Toyota, Hyundai, Tata motors
48
MNCs in Nepal
- Unilever - have a large factory in Hetauda - fast moving consumer goods - 500 jobs - Hyundai over 1000 jobs - high skill high wage sales jobs - Surya Nepal - joint with ITC india - over 5000 jobs, varying skill level

Theme 4 Economics A Level (2 decks)

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