Other
theme 2 revision questions
- Course
- Institution
by answering all the questions, you would be able to study 100% of content through active recall. the questions ask for definitions and diagrams needed in the exam
[Show more]
Seller
Follow
jessicashkurtaj
Content preview
Theme 2 revision questions:2.1 revision questions : measure of economic performance
1. What is the difference between GNI and GNP?
2. What is the difference between real GDP and nominal GDP?
3. Define Purchasing Power Parities?
4. List the 5 limitations to using GDP to compare living standards?
5. What is the Easterlin Paradox?
6. Define inflation
7. Define disinflation
8. Define deflation
9. What is the CPI?
10. How is the CPI measured?
11. State formula for CPI
12. What are the limitations of using CPI?
13. How is RPI measured?
14. Name the 4 main causes of inflation?
15. What is demand pull inflation?
16. Show demand pull inflation on a diagram?
17. What is cost push inflation?
18. Show cost push inflation on a diagram?
19. what is the main effect of inflation on firms?
20. what is the main effect of inflation on consumers?
21. what is the main effect of inflation on the gov?
22. what is the main effect of inflation on workers?
23. State the 2 measures of unemployment
24. Explain what the ILO & uk labour force survey is
25. Explain what the claimant count is
26. What is it meant by underemployment ?
27. Why would the employment and unemployment rate both be increasing?
28. Define structural unemployment
29. What causes structural unemployment ?
30. Define cyclical unemployment?
31. Why does cyclical unemployment occur?
32. What are the effects if unemployment on firms/gov’s/economy/individuals?
33. What is the BoP?
34. What does the current account of the balance of payments do?
35. What is a current account surplus ?
36. What is a current account deficit?
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller jessicashkurtaj. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.67. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72042 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now