Macroeconomic indicators - OCR A-Level Economics (H460) quiz

A satisfactory balance of payments

Maximising the budget deficit

Raising the Gini coefficient

Increasing nominal GDP regardless of inflation

Faster economic growth always lowers the general price level in the economy

Demand-led growth near full capacity causes demand-pull inflation

Inflation has no link at all to the level of aggregate demand in the economy

Economic growth always works to reduce the level of aggregate demand directly

Is measured at current prices

Includes the informal economy

Is adjusted for inflation

Excludes government spending

A movement from inside the PPF toward it

A fall in the price level

A rise in nominal GDP only

An outward shift of the PPF

A fall in the rate of inflation while prices still rise

A sustained fall in the general price level across the economy

A rise in the rate of inflation as prices accelerate upwards

A rise in real wages once inflation is taken into account

Excess aggregate demand bidding up prices near full capacity

Rising costs of production shifting short-run aggregate supply left

A fall in the money supply that tightens spending across the economy

A rise in labour productivity that lowers unit costs for producers

The number of people claiming unemployment benefits each month

The total number of unfilled job vacancies across the economy

The internationally comparable ILO definition

The size of the economically inactive population of working age

A short-term gap between leaving one job and starting another new one

A fall in aggregate demand during a recession that cuts the demand for labour

Predictable seasonal patterns in the demand for labour at certain times of year

A mismatch between workers' skills or location and available jobs

A curve bowing further below the line of perfect equality

A curve lying exactly along the diagonal line of perfect equality

A perfectly horizontal straight line across the whole diagram

A Gini coefficient of zero, indicating incomes are shared equally

Perfect inequality, with one person owning all income

Perfect equality, with income shared equally

Moderate inequality

That the data is missing

Income is a stock of assets, while wealth is a flow of money over time

They are identical concepts measuring exactly the same thing in the economy

Income is a flow over time and wealth is a stock of assets

Wealth is always distributed far more equally than income across the population

Adjusts fully for both inflation and the size of the population already

Is impossible to calculate accurately for any modern economy in practice

Always overstates the true level of income inequality within the country

Ignores the distribution of income and negative externalities