25 Marker application

Give 2 applications for inflation (cost push and demand pull)

Rising energy prices (2022 - 2023) Following global events such as the invasion of Ukraine (cost push)

After COVID 19, pent up demand caused demand pull inflation

Gimme 2 applications for employment vs unemployment

Retail sector automation (self checkout systems in supermarkets - low skilled workers most at risk)

Gig economy growth (e.g uber) highlight rise of flexible, often self employed work

Give me 2 applications for aggregate demand

Post pandemic consumer spending surge ( industries such as hospitality saw large splurge as people realeased pent up demand) Big boost to C component of AD

Infrastructure investment (HS2) - Represents significant component of gov spending (G)

Give me 2 applications for Balance of payments

Automotive industry exports (Nissan in sunderland and JLR export vehichles abroad contributing positively to goods component of current account)

Financial service exports (City of London improved services component of current account)

Gimme 2 aggregate supply applications

Investment in renewable energy (Orsted - offshore wind farms) - Increase LRAS

Rolls royce investing in robotics (investing in capital products to increase efficiency)

Gimme 2 applications for fiscal policy and taxation

Increases in main corporation tax from 19% to 25% (companies with revenue >25%)

Fuel duty freezes is an example of fiscal policy to reduce costs for consumers

Fiscal budget deficit

Increased NHS spend during COVID 19

Cost of living support pacakges such as payments to energy suppliers such as octopos energy

Gimme 2 applications for monetary polciy

Bank of england interest rate hikes in 2022 - 24 to curb inflation

Quantitative easing

Gimme 2 applications for supply side policies

Apprenticeship levy (requires large employers to contribute to a fund to finance apprenticeships)

Deregulation in specific sectors such as planning permission for housing developers