Top answers

What will happen to the price level when the price of imports increases?

The price level will increase, because foreign goods will be more expensive and this will effect prices overall.
GF
2661 Views

Evaluate the view that perfect competition is a more efficient market structure than monopoly.

Perfect competition is a market structure dominated by many firms. No individual firm is capable of affecting the market supply curve, so one firm cannot affect the market price; the firms are price takers i...
KV
83905 Views

Explain what the possible results could be from increasing the Euro/US dollar exchange rate (you are Euro)

When the exchange rate EU/US goes up, (1/5 becomes 1/10) the euro becomes worth less. If they euro is worth less, European products become cheaper to the US, potentially stimulating exports, while US product...
MV
Answered by Merle V. • Economics tutor
2829 Views

How can a tax be represented in a simple demand and supply diagram?

A tax can be indirect, imposed by the government on goods and services (e.g VAT) or direct (e.g. income tax). There are 2 types of indirect taxes: specific tax, which is a set amount and ad valorem, a percen...
CN
15872 Views

Identify policies a government can use to achieve economic growth.

The main policies governments can employ to achieve economic growth are demand and supply side policies. Demand side policies can increase aggregate demand in an economy during a period of recession. If ther...
BD
Answered by Ben D. • Economics tutor
4060 Views