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When the interest rate is low enough, monetary policy will fail to work, because:
1. interest rate cannot be lower than zero. Given the circumstances that the interest rate is low enough,...
The key to answering a question like this is to know a basic policy that HM Government has implemented recently. You can have a few policies that you remember so that when a question like this comes up...
A country is likely to benefit from higher rates of GDP growth. This is because access to a greater market size means greater export potential for countries like Malawi to exploit their comparative adv...
Price elasticity of demand is the responsiveness of demand to a change in price. (Definitions are key in economics!)1. The number and closeness of substitutes, if a good has many close (similar) substitut...
Monopolies generate economic profit and are therefore better able to invest in research & development which may improve their productive effiency, making them more dynamically efficient over time.
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