Business Careers EU Officials work in the different EU institutions. They are responsible for implementing EU policies.
Pair Work
1. The economy is growing strongly and inflation has risen up to 6% per annum. The European Central Bank has decided to raise interest rates by 4% to discourage borrowing and spending and therefore reduce inflation. The Irish government is concerned about the proposed sharp rise in interest rates and the effect it will have businesses looking for finance. (a) What effect will a 4% rise in interest rates have on demand for mortgages and bank loans?
(b) What can the Irish government do to prevent the ECB raising interest rates?
Chapter Review Key Terms Checklist Using a pencil, place a ¸ in each box to indicate how well you
know and understand each Key Term. q I know and understand this Key Term.
q I am still a bit uncertain about what this Key Term means. q I don’t understand this Key Term yet.
When you revise each chapter, tick the boxes again to indicate how much you have learned.
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2. 3. 4. 5.
6. 426
Globalisation refers to the rapid expansion of international trade leading to countries becoming less independent and more interdependent.
International trade is the exchange of goods and services between countries.
Visible trade is the import and export of physical goods. Invisible trade is the import and export of services.
The balance of trade is the difference between the value of the physical goods we export and import.
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Balance of payments is the difference between total exports (visible and invisible) and total imports (visible and invisible). q q q
