Unemployment
What is the definition of unemployment?
The amount of people who are not in work but actively seeking work.
Current account deficit: _______>________.
What goes in the blanks and in which order?
Imports > Exports
Define inflation
a sustained increase in average price levels
Which subjects does Miss Clark teach?
Define economic growth
an increase in output, income or expenditure over time
Cyclical unemployment occurs when the economy is in which phase of the business cycle?
Downturn or recession
Name all of the accounts in the balance of payments
Current account, financial account and capital account.
Explain how the CPI is used to measure inflation.
A value of the 'average' basket of goods is calculated in one year and then compared to a base year.
Where did Miss Clark grow up?
London
What can happen on an economy's PPC if economic growth occurs?
The PPC shifts to the right
Structural unemployment occurs when there is ____________ and ____________ immobility?
Geographical and Occupational
Assuming there are no calculation errors, what does the balance of payments always sum to?Name al
0
2%
What is Miss Clark's favourite animal?
Dog
False: cost-push inflation often leads to a fall in growth
Fiscal policy can reduce unemployment. Can you give one example of a fiscal policy?
Changes in government spending or changes in taxation.
$3000
What is the current rate of inflation in Singapore?
1.8%
How long has Miss Clark lived in Singapore?
3 years (nearly)
How many times a year is economic growth calculated in Singapore?
4 times
Which types of unemployment are considered 'natural'?
Seasonal, frictional and structural.
Give one reason why a large current account deficit may not be concerning for an economy
accept any relevant answer
What is the current rate of inflation in Japan?
1.4%
How many siblings does Miss Clark have?
6
How much growth did Singapore experience in the first quarter of 2026?
6%