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Explain how fiscal stimulus might be used to bring about supply-side improvements in the UK economy.

Begin by defining fiscal policy and a supply-side improvement (the latter should be supplemented with a diagram). Following the definition of a supply-side policy, we might begin with examples of fiscal poli...
JS
Answered by James S. • Economics tutor
2819 Views

Can you please explain the law of diminishing returns?

The law of diminishing returns refers to our production function in the short run. Remember, we define the short run as when we have at least on factor of production that is fixed. The easiest, and typical e...
EH
Answered by Emily H. • Economics tutor
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Discuss the extent to which economic development in the resource-rich economies of sub-Saharan Africa is likely to be promoted by international trade

Through international trade resource-rich economies in sub-Sahara Africa will be able to increase their exports; since exports are a component of Aggregate Demand, this will increase AD. Higher AD will incre...
EH
Answered by Euan H. • Economics tutor
3122 Views

What is economic growth?

Economic growth is an increase in the production of good and services in an economy over time.
FA
Answered by Funsho A. • Economics tutor
2339 Views

To what extent do the main macroeconomic objectives conflict?

The five main macroeconomic objectives are balanced trade, a low and stable inflation rate, sustainable economic growth, low unemployment and a fair distribution of income. Some of these macroeconomic object...
RH
Answered by Ryan H. • Economics tutor
11809 Views