Autumn Economics

Target for inflation

• 1%

• 1.5%

• 2%

• 2.5%

Current inflation is...

• on target

• below target

• above target

Who sets interest rates?

• The government

• The Bank of England

• The Interest Rate Commitee

• The Cabinet

When prices rise, the value of money.......

• rises

• stays the same

• falls

• fluctuates

When prices rise at a far greater rate and speed than expected

The type of unemployment where an area loses industry, or the type of work changes, leading to loss of jobs

• seasonal

• frictional

• cyclical

• structural

Cyclical unemployment is when there are changes in the economic...........

target for unemployment

• 2%

• 4%

• 5%

• 7%

The labour force is:

• the employed + unemployed

• the unemployed people

• the employed

• the employed - unemployed

Unemployment is when people are willing and ............. to work

• available

• able

• possible

• unwilling