mr Slattery theme 2 Flashcards
(25 cards)
carbon trading
system of limiting carbon emissions through granting firms permits to emit certain amount of carbon
carbon offsetting scheme
processes involves reduction/removal of carbon dioxide
economic growth
measures GDP of a country changes over a year
GDP
value of all goods/services produced within a country in a year, therefore GDP measures a countries output
growth
when uk is making more goods / services
boom
when the uk is making lots more goods/servies
slump
when the economy is slowing dowm a lot
recession
when the amount of goods and services the uk makes foes into negative figures
cute of economic growth
workers
more educated
better software/equipment
new technology
cause of unemployment
high interest rates
global recession
real wage unemployment
technological change
frictional unemployment
out of work due to personal short term unemployment
structural unemployment
no skills of yours needed or relevant
cyclical unemployment
economic reasons
seasonal unemployment
parts of the year when theirs no work in your job
claimant count
measures people who are eligible to claim job seekers allowance
balancing payments
record of the transactions the uk makes with the rest of the world
current account
net imports/exports
net income
net transfers
capital account
capital transfers eg real estate
financial account
foreign direct investment
net portfolio investment
other financial items(hot money)
improving the current account
reduce foreign exchange
invest in productivity
long term investment
put a tax on imported goods
encourage buy British
inflation
increase in prices
consumer price index
used in uk
excludes mortgage interest payments
retail price index
includes mortgage interest payments
phillips curve theory
claims economic growth leads to more jobs
