Key Stats To Cram

Question 1

How big is the Consumption component of AD?

Answer 1

60% of GDP

Question 2

How big is the Government spending component of AD?

Answer 2

20% of GDP

Question 3

How big is the net trade component of AD?

Answer 3

5% of GDP

Question 4

What does China export?

Answer 4

cheap steel rods and electric vehicles

Question 5

What are the main reasons why UK has a trade deficit?

Answer 5

1. Deindustrialization from globalisation
2. Strong pound
3. Exit from European Union, increased trade barriers