Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
10 Cards in this Set
- Front
- Back
|
Define working age population.
|
Anyone who is in the right age group to work, whether they are economical active or inactive.
|
|
|
Define workforce.
|
the employed and unemployed
|
|
|
What are the three labour market indicators?
|
1. unemployment rate 2. employment rate 3. economic activity rate |
|
|
What is the formula to work out the unemployment rate?
|
number of unemployed people ---------------------------------------------- x 100 workforce (employed + unemployed) |
|
|
What is the formula for the employment rate?
|
number of employed people ------------------------------------------ x 100 working age population |
|
|
What is the formula for economic activity rate?
|
workforce -------------------------------- x 100 working age population |
|
|
What is the difference between the RPI and the CPI? What do they stand for?
|
RPI - Retail Price Index (items brought by the average household in the UK) CPI - Consumer Price Index (expenditure on consumer goods and services in the UK used by private households, tourists and residents) |
|
|
What is the inflation rate formula?
|
RPI this year - RPI last year -------------------------------------- x 100 RPI last year |
|
|
How do you calculate the current and base period price?
|
Multiply the quantity and price, then add the cost of each item
|
|
|
What is the formula for base and current RPI? What do you do after calculating the formula?
|
current period prices------------------------------- x 100base period prices
work out the % difference between base and current |
