real life examples to use in essays Flashcards
(15 cards)
macro- spending in 2015 stats
total gov spending in 2015 was £745 billion
43% was gdp
spending on education and healthcare was 22% of gdp
£50 was capital spending
Initiatives like “Skill India” aim to train millions of workers for high-demand industries like IT and manufacturing.
Japan-Strategic support for the automotive and electronics industries helped companies like Toyota and Sony achieve global dominance.
China: Targeted support for industries like electric vehicles and renewable energy has made it a leader in those fields.
long run phillips curve type shit u got this girl power woop
SSPs are thought to be able to reduce the NRU (NAIRU) by shifting the LRPC to the left (opposite shift to LRAS).
This results in lower inflation rates to be associated all rates of unemployment.
This could explain why the Rate of unemployment fell consistently in the UK in the 1993-2008 without causing any rise in inflation.
whats one for deflation
- CPI inflation rate turned negative in April 2015 (-0.1%).
- Falling oil prices led to cheaper fuel and energy costs.
- Supermarket price wars between Aldi, Lidl, and the Big Four (Tesco, Sainsbury’s, Asda, Morrisons) drove grocery price deflation.
In 2024, the UK’s nominal GDP was approximately £2.85 trillion.
Unemployment: at 4.2% in March 2024, increase from 3.7% in 2023
Germany had a surplus of $293 billion, about 7.1% of GDP.
India runs a current account deficit partly because it imports capital equipment to support its industrialization and digital economy goals.
In the UK after the 2008 financial crisis, unemployment rose to ~8%, leaving many factories and offices underused.
natural rate of unemployment in the UK is estimated to be roughly between 3.5% and 4.5%.
South Africa’s persistent unemployment (over 30%) has contributed to high poverty rates and limited access to basic services.
Eurozone inflation remained below 2% throughout much of the 2010s due to high unemployment and sluggish recovery.
