975707
Description
Flashcards by maxemerson2014, updated more than 1 year ago
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Created by maxemerson2014
almost 10 years ago
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| Question | Answer |
| Unit 4 Edexcel Economics Data on the UK | This includes a variety of economics data which is handy for the unit 4 exam |
| What is the UK National minimum wage? | £6.50 |
| What is the rate of corporation tax in the UK? | 23% |
| GDP growth forecast for 2014 | 2.88% |
| Budget Balance (as a percentage of GDP) | -6.1% meaning there is a budget deficit. |
| National debt | 76% |
| Current account balance | -4.4% meaning there is a current account defcit. |
| Rate of interest? | 0.5% |
| Inflation rate and inflation target? | 1.6% is the actual inflation rate at the moment and the UK's target is to have 2% inflation plus or minus 1% either way, so 3% or 1% inflation is still within the target. |
| Unemployment rate? | 6.8% |
| VAT | 20% |
| Labour productivity (GDP per worker, % change upon previous year) | -0.75% |
| Income tax maximum rate? | 45% |
| Investment | 14.2% |
| PISA index? This is a measure of the quality of education in a country. | Rated 26th |
| Global competitiveness rank? | 10th as of the end of 2013 |
| Estimated output gap as % of GDP? | Roughly 1.9% |
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