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Economics WEC12/01 January 2023

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1. Macroeconomic performance indicators: GDP growth rates, unemployment rates, inflation trends, savings ratios, balance of trade deficits, base interest rate changes, multiplier effects, GNI fluctuations, output gaps. 2. Economic concepts: multiplier effect, marginal propensity to consume/save/import/tax, demand-deficient unemployment, seasonally adjusted data, disinflation vs deflation, business confidence impact, macroeconomic costs of growth (environmental damage). 3. Policy instruments and effects: central bank roles, interest rate adjustments, impact on borrowing costs, economic growth, unemployment, consumer confidence, purchasing power. 4. Graphical data interpretation: AS-AD diagrams, trade balance charts, savings ratio trends, real GDP per capita changes, population and GDP per capita effects on total GDP. 5. Calculation and analysis: GNI ratios, GDP changes from population and GDP per capita data, macroeconomic impacts of house price increases on homeowners. 6. Macroeconomic challenges: high inflation effects, negative output gaps, fall in business confidence, and environmental costs of growth.
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