This article picked by a teacher with suggested questions is part of the Financial Times free schools access programme. Details/registration here.

Specification:

  • Currency, exchange rates, inflation, growth, unemployment, monetary policy

Click to read the article below and then answer the questions:

Turkish inflation hits 20-year high of 54%

  • What is meant by the exchange rate?

  • What is the current exchange rate for the Turkish Lira against the British Pound?

  • What is Turkey’s current inflation rate?

  • What effect has the decline of the Turkish Lira had on food prices, on growth, on inflation and on consumers welfare? Explain. You can use a diagram to help

  • Why is the Turkish Lira declining? Explain using demand side policies. What policy is being implemented? Add a diagram to your answer

  • Evaluate the effect of the continuous decline of the Turkish Lira on the economy and the population.

Noaf Al-Diraa, Alperton Community School

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