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Inflation is the increase in general price levels in an economy. It is measured by two indices; retail price inflation (RPI) and consumer price inflation (CPI). CPI is the more common measure and measures...
Since government spending is a component of Aggregate Demand (AD), this expansionary fiscal policy will cause AD to rise. This will be exaggerated by the multiplier effect, whereby an injection into the c...
A public good is good which is non- excludable and non-rival.This means the utility one person gains from the good does not diminish the utility another person may gain from the good. (non-rival)This also...
If a business has low levels of confidence in the economy there will be lower levels of investment and so lower economic growth. This will likely result in economic recession where the economy contracts f...
Firstly, we need to look closely at the exam question and highlight each of the areas of knowledge we need to cover:Define collusionExplain types of collusionDefine oligopolistic market (oligopoly) and of...
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