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Christina's Economics Thread !!! watch

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    woohoo an economics thread. I have been revising all day

    Here is my question:
    What is the thingy called when the government spend, Like the budget and at the end of each year they are either in surplus or deficit but it doesnt really matter. Is it the balance of payments.
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    (Original post by Jak Spencer)
    woohoo an economics thread. I have been revising all day

    Here is my question:
    What is the thingy called when the government spend, Like the budget and at the end of each year they are either in surplus or deficit but it doesnt really matter. Is it the balance of payments.
    The current account?
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    oh yeah
    ta
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    Public Sector Net Cash Requirement (PSNCR)
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    (Original post by mik1a)
    Public Sector Net Cash Requirement (PSNCR)
    arent we smart heh
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    (Original post by mik1a)
    Public Sector Net Cash Requirement (PSNCR)
    PSNCR is the difference between the expenditure of the public sector and its income, current account is the account that records the flows of goods and services and other current receipts and payments between residents of the domestic economy and residents of the rest of the world, so I think it's the current account he ^ was referring to?
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    (Original post by Ellie4)
    PSNCR is the difference between the expenditure of the public sector and its income, current account is the account that records the flows of goods and services and other current receipts and payments between residents of the domestic economy and residents of the rest of the world, so I think it's the current account he ^ was referring to?
    It is the PSNCR if (s)he is referring to Government spending and borrowing
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    (Original post by Economist)
    It is the PSNCR if (s)he is referring to Government spending and borrowing
    Hmm. I've confused myself. Explain the differences between the 2 mr nice man please!
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    PSNCR is the gap between government revenues and expenditure. So if G>T, there will be a PSNCR deficit, and if T>G there will be a PSNCR surplus.

    "What is the thingy called when the government spend, Like the budget and at the end of each year they are either in surplus or deficit but it doesnt really matter. Is it the balance of payments."

    I think that was the right answer, but I don't know what a current account is...


    Jak it's definately not a balance of payments, or balance of trade. That is the difference between imports and exports. So if a country imports £10bn of chicken and only exports £5bn of chicken, the country has a balance of trade defecit. Whereas PSNCRs depend on the difference between G and T (gov. spending and taxation), balances of trade depends on X and M.
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    (Original post by Ellie4)
    Hmm. I've confused myself. Explain the differences between the 2 mr nice man please!
    PSNCR is the combined financial deficit of a central governement + local government + the public corporations. It is a measure of the borrowing requirement of the government within an economy. The government can be either in a budget deficit where borrowing exceeds revenue gained or surplus where revenue is greater than borrowing

    Current account is one of the measures of the balence of payments (difference between money flowing into an economy and flowing out)

    Hope you understand
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    (Original post by mik1a)
    PSNCR is the gap between government revenues and expenditure. So if G>T, there will be a PSNCR deficit, and if T>G there will be a PSNCR surplus.

    "What is the thingy called when the government spend, Like the budget and at the end of each year they are either in surplus or deficit but it doesnt really matter. Is it the balance of payments."

    I think that was the right answer, but I don't know what a current account is...


    Jak it's definately not a balance of payments, or balance of trade. That is the difference between imports and exports. So if a country imports £10bn of chicken and only exports £5bn of chicken, the country has a balance of trade defecit. Whereas PSNCRs depend on the difference between G and T (gov. spending and taxation), balances of trade depends on X and M.
    Ah ok, it was the mention of gov spending I didn't read properly. Cheers for your help
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    OOPS SORRY EVERYONE DON'T GET STRESSED, BUT I AM DOING AQA ECONOMICS WHICH IS ON 14th JUNE. SORRY TO CONFUSE YOU DOING EDEXCEL ECONOMICS, WHICH MAY WELL BE ON THE 15th LOL

    Tom
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    (Original post by tomlegge)
    OOPS SORRY EVERYONE DON'T GET STRESSED, BUT I AM DOING AQA ECONOMICS WHICH IS ON 14th JUNE. SORRY TO CONFUSE YOU DOING EDEXCEL ECONOMICS, WHICH MAY WELL BE ON THE 15th LOL

    Tom
    I was right, I was right
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    im back! any questions?
    • Thread Starter
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    (Original post by kriztinae)
    im back! any questions?
    yes, why arnt you revising like you said?
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    (Original post by Fly By)
    yes, why arnt you revising like you said?
    argg i got sick of it
    i know practicly everything i need to know for my exam i dont know what else to do!!
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    (Original post by kriztinae)
    argg i got sick of it
    i know practicly everything i need to know for my exam i dont know what else to do!!
    actually we have guests so i have to go entertain! argg
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    (Original post by kriztinae)
    actually we have guests so i have to go entertain! argg
    im back again :eek:
    anyone have any questions im bored!
    • Thread Starter
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    (Original post by kriztinae)
    im back again :eek:
    anyone have any questions im bored!
    umm.. no you're too good!
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    I Can't think of any! I really need to practice asnwering exam questions though. Especially the 15 markers.
 
 
 
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