IB Economics HL: Real World Examples

$50 per ton

the carbon tax implemented by Canada to manage a negative externality of production

50’000

firms who emit more than (…) must pay the carbon tax implemented by Canada

80 - 90 million tons

the carbon tax implemented by Canada aims to reduce greenhouse gas emissions by…

Ontario, Alberta and Saskatchewan

the carbon tax implemented by Canada has faced backlash from governments of…

100% tax

Qatar placed a (…) on alcohol to manage a negative externality of consumption

2019

the year in which Qatar launched a tax doubling the price of alcohol

healthcare and education

the sectors which the earned revenue from Qatar’s sin tax will be reinvested into

minimum smoking age from 18 to 21

Hawaii raised the (…) to manage a negative externality of consumption

2021

the year during which Hawaii raised the legal smoking age

86%

the percentage of Hawaiian residents who report to having started smoking before 21

1400

the number of people tobacco kills annually

clean energy

the product which Spain is subsidizing by $215 million

$101 million

the amount of money Spain is investing into renewable energy production

700’000 tons every year

the estimated amount the Spain’s investment into clean energy is going to reduce emissions by

vegetables

the good the Indian state of Kerala has placed a price floor on

20% greater than their production cost

the size of the price floor Kerala has placed on vegetables

individually requested COVID swab tests

the good Indonesia has placed a price ceiling on

900’000 Rp

the price at which Indonesia has placed a price ceiling at on individually requested COVID swab tests

Asda and Sainsbury in 2019

the merger of these two supermarket firms was blocked by Britain’s competition and markets authority

30.7%

the market share the merger of Sainsbury and Asda would have had if they hadn’t been blocked

2018

the year in which the European commission fined Google

violating the EU’s competition rules by requiring phone manufacturers to preinstall the google browser to access the play store

the reason for the European commission fined Google

$5 billion

the fined imposed on Google by the European Commission in 2018

1.11%

the new minimum lending rate imposed by the Taiwan Central Bank to impose an expansionary monetary policy

march 2020

the month and year in which the Taiwan Central Bank set a new minimum lending rate

1.7%

due to Taiwan’s expansionary monetary policy the inflation rate remains stable at…

3.72%

Taiwan’s unemployment rate in March 2020

3.60%

Taiwan’s unemployment rate in March 2021

£150 billion

the value of government bonds bought by the Bank of England

November 2020

the time at which the Bank of England began buying government bonds to fight a recession

0.01%

the interest rate in November 2020 which made it impossible for the Bank of England to adjust further

5.1%

the unemployment rate before the Bank of England began buying government bonds

May 2022

the time at which the US Federal Reserve announced it would be raising interest rates

0.5%

the value by which the US Federal Reserve raised the interest rates

8%

the climbing inflation rate which caused the US Federal Reserve raised the interest rates

up to $1400

the direct payment provided to US citizens as part of the CARES Act to boost spending as part of an Expansionary Fiscal Policy

4%

the expected GDP growth as a result of the CARES Act Expansionary Fiscal Policy

3.2%

the expected unemployment rate as a result of the CARES Act Expansionary Fiscal Policy

$225 billion

the amount by which the US government reduced spending on the defense sector

1990

the year in which the US government reduced spending on the defense sector as part of a Contractionary Fiscal Policy

almost $83 billion

the amount invested into research and development by South Korea

2019

the year in which South Korea heavily invested into research and development

a progressive tax system

the type of tax system Denmark uses

55%

the % of income taxed in Denmark’s highest tax bracket

from 0.282 to 0.277

the fall in Denmark’s Gini coefficient resulting from its progressive tax system

40’203 ton quota

the type of trade protection China imposed on Australian wool imports

80%

the percentage of Australian imports which account for China’s total wool imports

monetary union

the type of trading bloc the European Union is

27 countries

the number of members of the European Union

1993

the year the European Union was founded

August of 2015

the year in which the People’s Bank of China devalued it’s currency to counter rapid appreciation

3%

the amount by which the People’s Bank of China devalued it’s currency to counter rapid appreciation

33%

the appreciation of the Chinese Yuan against the US Dollar before the People’s Bank of China devalued it’s currency