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Economic Indicators (Inflation (!High Inflation! (Impacts (Less Savings,…
Economic Indicators
Inflation
Measured using CPI
(Consumer Price Index)
Demand-Pull
Cost-Push
!High Inflation!
Impacts
Less Savings
Less Purchasing Power
Less Exports
This is the steady and persistent increase in prices
Economic Growth
This is the increase in goods/services produced in an economy during the year
GDP- Gross Domestic Product
GNP-Gross National Product
Currently doing well in Ireland
Employment
Current unemployment rate -4.8%
The labour force is all people of working age (16-65) who are willing and able to work
Low unemployment is needed for a healthy economy (around a 4% rate of unemployment)
Better Standard of Living
Increased Demand for goods
Interest Rates
Set by the European Central Bank (ECB) in Frankfurt
Interest Rates are the cost of borrowing money or reward for saving
Currently low in Ireland