standard of living depends on the quality and quantity of goods and services available to people but is also affected by their health and the environment in which they live
the national living wage is a price floor for labour. under the national living wage workers over 21 must be paid £11.44 per hour
an increase in a banks liquidity ratio is good for stability
an increase in a banks capitol ratio is good for stability
any movement along the short run Philips curve comes from a shift in aggregate demand
any shift in the short run Philips curve comes from a change in inflation expectations
any shift in the long run Philips curve comes from a change in long run aggregate supply
secondary income in the current account = remittances, repatriation of profit, aid
primary income in the current account = investment income
a debit on the balance of payments is money leaving the UK to go abroad
a credit on the balance of payments is money coming into the UK from abroad
