Mathematics has been described as the study of structure, order and relation that has evolved from the practices of counting, measuring and describing objects. Mathematics provides a unique language to describe, explore and communicate the nature of the world we live in as well as being a constantly building bodyRead More
1: Explain the potential effects on the economic growth rate from substantial increase in the number of skilled people of working age entering a country. 2: Discuss the view that, apart from indicating economic growth rates over time, national income statistics are of little use. 3: Evaluate the view thatRead More
1: Explain why structural unemployment might occur in an economy. 2: Explain why a high rate of inflation may negatively affect both a country’s export competitiveness and the level of capital investment by firms. 3: Explain the cause of cyclical (demand-deficient) unemployment. 4: Discuss the view that the most significantRead More
1: Using the concept of the multiplier, explain how an increase in investment might affect aggregate demand. 2: Explain the possible impact of an increase in wealth and consumer confidence on aggregate demand. 3: Examine why, in contrast to the monetarist/new classical model, the economy will not automatically return toRead More
1: Explain how changes in the size of the circular flow depend on the relative size of injections and leakages.