Indicators of economic performance
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Indicators of Economic Performance 1. Employment a. Workforce = paid employment + people not in work Measured by: Claimant Count (though to underestimate) Labour Force Survey (ILO Survey) 2. Inflation a. Consumer Price Index (CPI) b. Retail Price Index (RPI, not widely used) 3. Sustainable Growth a. Changes in real output/GDP/GNP 4. Current Account Balance in the Balance of Payments X=M or Exports (X) = Imports (M) M>X = Deficit x>M = Surplus Visible Trade (tangible goods) Invisible Goods (intangible goods) a. Services b. Transfers (private transfers)
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Take a look at the indicators of Economic Performance. Useful in your revision
Transcript of Indicators of economic performance
Indicators of Economic Performance
1. Employment a. Workforce = paid employment + people not in work
Measured by:
Claimant Count (though to underestimate)
Labour Force Survey (ILO Survey)
2. Inflationa. Consumer Price Index (CPI)b. Retail Price Index (RPI, not widely used)
3. Sustainable Growtha. Changes in real output/GDP/GNP
4. Current Account Balance in the Balance of Payments
X=M or Exports (X) = Imports (M)
M>X = Deficit
x>M = Surplus
Visible Trade (tangible goods)
Invisible Goods (intangible goods)
a. Servicesb. Transfers (private transfers)c. Investment Income (interest, profits, dividends)
