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Expansionary monetary policy is the use of a central bank's money supply and interest rate manipulation to stimulate aggregate demand and aggregate supply. This is done through raising the money supply, l...

Interest Rates are a tool used by the Bank of England in the UK in order to control inflation and keep it to the 2% aim. Interest rates work in two main ways, supposing the interest rates rose from 0.25% ...

Microeconomics analyses economic decisions made at an individual, or micro, level as opposed to macroeconomics which approaches economics from a macro level (an economy as a whole).
Austrian economis...

By definition, a Veblen good is one for which the quantity demanded increases as the price increases, which is an apparent contradiction of the law of demand. Examples of Veblen goods are normally very ex...

Price elasticity of demand (PED) is a measure of the responsiveness in demand, following a change in price, of a good (defintion). It is calculated by the formula: % change in quantity demanded/ % change ...