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An increase in interest rates increases the incentive to save, as the reward for saving is now higher. So, saving in the economy is likely to increase, which will decrease consumption (assuming that peopl...
The main part of the explanation will be through the use of the whiteboard during the session.An economy's exchange rate is determined by the demand and supply of its currency. The point at which th...
The net trade balance in goods for February–April 2012 is –£9.2bn and for February–April 2013 is –£10.5bn therefore the percentage change is 14.1%.
The best way to answer this question would be by using the help of a Keyenesian diagram. After drawing the standard long-run supply curve and aggregate demand curves we can show what effect an increase in...
The main assumptions of the model of perfect competition are: the number of selling firms tends to infinite, both sellers and buyers are price takers (i.e. they cannot influence the market price), identic...
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