66695
Description
Mind Map by gracejeppo, updated more than 1 year ago
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Created by gracejeppo
almost 11 years ago
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MACROECONOMIC INDICATORS
- GDP
- The monetary value of all the
finished goods and services
produced within a country's borders
in a specific time period
- GDP PER
CAPITA: the GDP
divided by the
number of people
in the country
- The monetary value of all the
finished goods and services
produced within a country's borders
in a specific time period
- MEASURES OF INFLATION
- CPI
- a weighted price
index, which
measures the
monthly change in
the prices of over
600 different goods
and services
- The weights
are revised
each year,
using info from
the Family
Expenditure
Survey.
- The
expenditure of
the highest
income
households,
and of
pensioner
households
dependent on
state pensions,
is excluded.
- does not include
any housing costs,
such as the effect
of mortgage rates
or council tax.
- a weighted price
index, which
measures the
monthly change in
the prices of over
600 different goods
and services
- RPI
- This official measure is
calculated each month by
taking a sample of goods
and services, which the
typical household might
buy.
- Included are such items
as food, heating, housing,
household goods, bus
fares and petrol.
- "headline" rate of
inflation
- This official measure is
calculated each month by
taking a sample of goods
and services, which the
typical household might
buy.
- CPI
- UNEMPLOYMENT
- CLAIMANT COUNT
- counts only those people
who are eligible to claim
the Job Seeker's
Allowance.
- PROBLEMS WITH THE CLAIMANT
COUNT
- misses out many people who are interested in
finding work and who might have searched for work
in the recent period
- but they don't meet all of the criteria for claiming
and therefore are not included in the monthly
unemployment count.
- but they don't meet all of the criteria for claiming
and therefore are not included in the monthly
unemployment count.
- misses out many people who are interested in
finding work and who might have searched for work
in the recent period
- counts only those people
who are eligible to claim
the Job Seeker's
Allowance.
- LABOUR FORCE SURVEY
- covers those who have
looked for work in the
past month and are able
to start work in the next
two weeks
- only includes
those who are
unemployed and
claiming benefit.
- On average, the labour force survey
measure has exceeded the claimant
count total by about 400,000 in
recent years.
- covers those who have
looked for work in the
past month and are able
to start work in the next
two weeks
- CLAIMANT COUNT
- BALANCE OF PAYMENTS
ON THE CURRENT ACCOUNT
- comprises the balance of
trade in goods and services
plus net investment incomes
from overseas assets and net
transfers
- Net investment income
comes from interest
payments, profits and
dividends from external
assets located outside the
UK.
- Transfers into and out of a country
include foreign aid payments
- For the UK the net transfers figure is negative
each year, mainly due to the UK being a net
contributor to the budget of the European
Union.
- As a rich nation, the UK makes
sizeable foreign aid payments to many
other countries.
- As a rich nation, the UK makes
sizeable foreign aid payments to many
other countries.
- For the UK the net transfers figure is negative
each year, mainly due to the UK being a net
contributor to the budget of the European
Union.
- comprises the balance of
trade in goods and services
plus net investment incomes
from overseas assets and net
transfers
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