Buiter Sees Period of Protracted Uncertainty for U.K.

The video discusses the uncertainty surrounding Brexit, highlighting the potential long-term economic impacts on the UK and EU. It explores the implications of the UK leaving the EU without a formal agreement, adopting WTO rules, and the resulting trade barriers. The concept of equilibrium is analyzed in the context of the UK's economic stability, considering factors like investment and labor supply. The video concludes with a discussion on the potential slowdown in GDP growth and sector-specific impacts in both the UK and EU.

What is the main concern regarding the Brexit negotiations according to the discussion?

• The negotiations will have no impact on the EU.

• The negotiations will be quick and straightforward.

• The negotiations will be long and uncertain, affecting the economy.

• The negotiations will lead to immediate economic growth.

If the UK leaves the EU without a deal, what trade rules are they likely to follow?

• ASEAN trade agreements

• NAFTA rules

• WTO rules

• EU trade rules

What are some of the non-tariff barriers that could affect UK trade post-Brexit?

• Increased tariffs on goods

• Administrative rules and regulations

• Elimination of all trade barriers

• Simplified customs procedures

How is the concept of equilibrium used to describe the UK's economic future?

• Equilibrium implies no change in economic conditions.

• Equilibrium indicates a period of uncertainty and adjustment.

• Equilibrium suggests a stable and predictable economic environment.

• Equilibrium means the UK will have rapid economic growth.

What is the expected impact on GDP growth in the UK due to Brexit negotiations?

• Significant recession

• No impact on GDP growth

• Rapid increase in GDP growth

• Minor slowdown in GDP growth