The connection between public expenditure and inflation in the United Kingdom
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
The connection between public expenditure and inflation in the United Kingdom
Public expenditure is the spending of government on various goods and services that are essential for economic growth, social welfare, and infrastructure development. The level of public expenditure in the United Kingdom has been increasing over the years, and it is important to understand the relationship between public expenditure and inflation. Inflation is the rate at which the general price level of goods and services in an economy increases over time. In this article, we will explore the connection between public expenditure and inflation in the United Kingdom.
One of the main ways in which public expenditure can cause inflation is through the increase in demand for goods and services. When the government spends more money on infrastructure development, social welfare, and other public goods, it creates a demand for goods and services in the economy. As the demand for goods and services increases, producers may not be able to keep up with the demand, and prices may increase. This is known as demand-pull inflation.
Moreover, the government may also cause inflation by increasing the money supply through public expenditure. When the government spends more money, it increases the amount of money in circulation in the economy. As the money supply increases, the value of money decreases, and prices of goods and services increase. This is known as cost-push inflation.
In the United Kingdom, public expenditure has been increasing over the years. For instance, in 2019, the UK government spent £842 billion on public goods and services, which was an increase of 3.8% from the previous year. The increase in public expenditure has led to an increase in demand for goods and services, which has contributed to inflation in the country.
Another factor that has contributed to inflation in the UK is the depreciation of the pound sterling. The depreciation of the pound sterling has led to an increase in the cost of imports, which has contributed to cost-push inflation. When the cost of imports increases, producers may increase the prices of their goods and services to maintain their profit margins. This has led to an increase in the general price level of goods and services in the economy.
Moreover, the Brexit referendum in 2016 has also contributed to inflation in the UK. The uncertainty surrounding the Brexit negotiations has led to a depreciation of the pound sterling, which has led to an increase in the cost of imports. Furthermore, the Brexit negotiations have led to an increase in public expenditure, as the government has had to spend more money on preparing for Brexit. This has contributed to inflation in the country.
In conclusion, public expenditure can contribute to inflation in the United Kingdom in various ways. The increase in demand for goods and services, the increase in the money supply, and the depreciation of the pound sterling are some of the factors that have contributed to inflation in the country. It is important for the government to manage public expenditure carefully to avoid contributing to inflation and to ensure economic stability in the country.
The connection between public expenditure and inflation in the United Kingdom
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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