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economic indicators (inflation ((when the cost of producing goods…
economic indicators
inflation
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calculation of inflation = difference in cost of living between year 1 and year 2 over cost of living in year 1 x100
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national debt
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Household=taxes may increase,government spending may decrease, Business= reduced consumer demand, Economy=services are likely to be cut back.
interest rates
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Effect of low interest rates, Household=more disposible income, Business=repayments on existing loans , Economy=increased investment.
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employment rates
Is the precentage of people that are working over the population. That is how many people in a precentage that are working. In july 2019 in Ireland the precentage of people working was at 69.1%.
High unemployment= Household= decrease in consumer demand for goods and services, many households will have a lower standard of living, Business=might be harder to attract extra finance, Economy= reduced economic activity ,social problems may increase.