Economics class: UK economy stagnated for second consecutive month in July

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Specification:

• Macroeconomic indicators, economic growth, fiscal policy

Click to read the article and then answer the questions:

UK economy stagnated for second consecutive month in July

• Follow the link to the Office for National Statistics (ONS) website and note the values for i) employment; ii) inflation; iii) GDP; and iv) UK population

• Explain the role of the ONS

• With reference to the chart, calculate UK GDP growth from 2007-present

• Define technical recession

• Draw and explain the economic cycle diagram

• Anna Leach states that ‘businesses need a predictable and efficient tax system, and growth-supporting policies.’ Evaluate whether Rachel Reeves can deliver either of these policies given the current state of the public finances

Gavin Clarke, Emmanuel College