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Why is inflation desirable?

Inflation is desirable when it is low and stable. The easiest way to explain why is by outlining the consequences should inflation be either too high or too low; 1. If inflation is too high it often becomes ...
FR
12236 Views

How can I show the impact of a NMW on employment using a supply and demand graph?

You'd need to draw your pair of axes, labelling the vertical one "wages" and the horizontal one "quantity of workers". Your labour demand and supply curves should look like normal demand ...
MG
Answered by Martin G. • Economics tutor
3418 Views

Explain the difference between direct and indirect costs.

Businesses have many different costs to pay when running. We can categorise these costs into different categories, such as direct and indirect costs. A direct cost is though of as being affected by the numbe...
BC
Answered by Barnaby C. • Economics tutor
5126 Views

Integrate the function f(x) = (1/6)*x^3 + 1/(3*x^2) with respect to x, between x = 1 and x = 3^(1/2), giving your answer in the form a + b*3^(1/2) where a and b are constants to be determined.

We can imagine our function as a curve. We have x values on the x axis and f(x) values on the y axis of our graph. The question is essentially asking us to find the area between the curve, the x axis and the...
DV
Answered by Daniel V. • Economics tutor
4291 Views

What are tariffs?

Tariffs are taxes on imported products. Governments impose them in order to discourage consumers from purchasing imported products and/or to raise revenue. Tariffs can be ad-valorem (% taxes) or specific (fi...
AH
12063 Views