UNIT 19 Economic Indicators and Sustainability 11. What is the impact of unemployment on the individual and the government?
Individual Government
12. If economic growth is decreasing, state one positive and negative impact for the government.
Positive impact Negative impact
13. The Irish Government decides to expand LEOs and offer additional funding to small businesses, and will support economic growth for next year.
State two ways in which economic growth can have a positive impact on individuals. 1.
2. 14. Explain what is meant by the following four acronyms.
ECB CPI GDP IR
15. As a result of economic growth, exports have increased. State two advantages this has for the economy.
16. Calculate the rate of inflation for the following examples. Cost of living
Year 1 Year 2
Rate of inflation
17. Josephine and May have a mortgage of €200,000. (i) What is the interest per year at 3%? (ii) What is the interest per month at 3%? If interest rates increased to 5%: (iii) What is the interest per year at 5%? (iv) What is the interest per month at 5%?