What is meant by 'external inflation' in the context of the UK economy?
External Inflation and Its Impact on the UK's Macroeconomic Performance

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Business
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11th Grade - University
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Hard
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Inflation caused by domestic factors within the UK
Inflation that is controlled by the UK government
Inflation that only affects the UK's financial sector
Inflation that originates from other countries and affects the UK
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do commodity prices influence the UK's macroeconomic performance?
They can cause shifts in short-run aggregate supply and demand
They only influence the UK's employment rates
They only affect the UK's long-term economic growth
They have no impact on the UK's economy
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was the trend in oil prices following the global financial crisis?
Oil prices increased steadily
Oil prices decreased continuously
Oil prices remained stable
Oil prices rose sharply and then fell significantly
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the effect of a factor price fall on the UK's economy?
It causes a long-term decrease in aggregate supply
It results in a positive short-term impact on growth and unemployment
It leads to higher inflation and unemployment
It has no impact on the UK's economy
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do changes in factor prices affect the UK's trade balance?
They only influence the UK's export levels
They have no effect on trade
They can alter the competitiveness of UK exports and imports
They only affect the UK's import levels
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What role do exchange rate changes play in the UK's competitiveness?
They only affect the UK's domestic prices
They lead to a permanent change in competitiveness
They can cushion the effects of price disadvantages
They have no impact on competitiveness
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens if the UK's inflation rate is higher than that of its competitors?
The UK's trade balance remains unchanged
The UK sees a decrease in exports and an increase in imports
The UK experiences a positive aggregate demand shift
The UK becomes more competitive
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