what did the bank of England do to interest rates in February 2022 for the second time in 3 months ?
increased interest rates from 0.25% to 0.5% - example of monetary policy
1 of 19
what was the name of the programme used by the government to help firms pay employees wages during the covid lockdowns ?
furlough scheme
2 of 19
the 2019 conservative party manifesto pledged to “level up” the uk economy, what methods were planned by the government to achieve this levelling up?
increased R&D spending in regions
moving civil jobs out of london - hs2 railways
national skills fund - better education
creating “freeports” (spending on agriculture) for encouraged trade
3 of 19
inflation in the UK is forecast to average 6% in 2022, when was the last time it was this high?
1991 - CPI was at 7%
4 of 19
By what percentage is the UKs energy price cap set to rise in April 2022?
54%
also estimated to rise another 54% in October so energy and gas and household spending become more expensive - less disposable n more inequality ?
5 of 19
who is Rishi Sunak?
the UKs chancellor of the exchequer
6 of 19
what is the name of the organisation funded by the Government, that provides official economic forecasts for the uk and monitors government fiscal policy ?
The Office for Budget Responsibility (OBR)
7 of 19
why are there so many unfurled vacancies (1.2 million!) in the UK labour market ?
more economically inactive people (400,000 plus)
fewer migrant workers
more people in education
lower wages - decentivise economic activity
8 of 19
how many times per year does the monetary polic6 committee meet ?
8x
9 of 19
wha5 country has the most equal income distribution?
1. Slovenia (24.2%)
2. Iceland (26.8%)
10 of 19
What’s the UKs income distribution?
35.1%
11 of 19
what country has the most unequal income distribution?
South Africa (63%)
12 of 19
What three countries have the lowest ratio of national debt to GDP ratio ?
Australia (24.8)
Ch8na (66.8)
UK (94.9)
13 of 19
What country has the highest national debt to Gdp ratio ?
Japan (266)
14 of 19
what countries have the highest rate of youth unemployment
South Africa (66.5%)
Spain (30.6%) - could be because of seasonal D for labour caused by tourism
15 of 19
what are 3 examples of industries with a 3-firm concentration ratio of over 50%
UK supermarkets
UK streaming
UK low cost gyms (73%)
16 of 19
what happened to Southern water in 2021.
£90m fine for dumo8hg sewage in the sea
17 of 19
what industries in the UK have the highest level of employment
1. health n social care - 4,473,000 ppl
2. education - 3,474,000 ppl
18 of 19
what UK industries have the lowest amount of employment ?
1. agriculture n fishing - 258,000
2. finance n insurance - 1,368,000
3. construction - 2,158,000
19 of 19
Other cards in this set
Card 2
Front
what was the name of the programme used by the government to help firms pay employees wages during the covid lockdowns ?
Back
furlough scheme
Card 3
Front
the 2019 conservative party manifesto pledged to “level up” the uk economy, what methods were planned by the government to achieve this levelling up?
Back
Card 4
Front
inflation in the UK is forecast to average 6% in 2022, when was the last time it was this high?
Back
Card 5
Front
By what percentage is the UKs energy price cap set to rise in April 2022?
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