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What is the impact of a fall in the central bank interest rate on the macroeconomic performance of the UK economy?

Firstly, it expands the aggregate demand since invesment rises. Hence GDP rises. However, this depends on whether the fall is anticipated by markets already.

Secondly, it devalues the UK'...

Answered by Guangyao M. • Economics tutor

3147 Views

What is the impact of a rise in national minimum wage on the labour market?

Minimum wage is a crucial topic in A-level micro economics and I thought it ought to be one of the questions prepared.

Answered by Guangyao M. • Economics tutor

3027 Views

How do I work out the different elasticites of demand?

Elasticity is the proportionate responsiveness of a second variable to an initial change in the first variable.

There are four different types of elasticites:

Answered by Jessica E. • Economics tutor

3755 Views

What's the difference between a 10-marker and a 15-marker and how would I go about answering these?

These essay style questions create the bulk of your micro/macro studies, and it's important to know how to answer them effectively and efficiently.

With the 10 mark style questions, the e...

Answered by Balraj D. • Economics tutor

39916 Views

Explain two benefits to the government that falling unemployment provides.

There will be less unemployment benefits paid out by the government allowing them to spend this money elsewhere, such as improving infrastructure.
2. Less people unemployed means the government...

Answered by George B. • Economics tutor

23569 Views