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Explain why an increase in labour productivity is likely to reduce the deficit on the current account of the balance of payments.

A current account deficit arises when import expenditure exceeds export revenue. An increase in labour productivity implies that there is an increase in efficiency in production and also a rise in output for...
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Answered by Tom E. • Economics tutor
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What is the difference between "explaining" and "analysing"?

An exam answer that "explains" a passage or poem will be a less thoughtful response; if you're explaining a text, you're giving an overview of what happens ("In Of Mice and Men , Lennie and Ge...
LC
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How do automatic stabilizers work?

Automatic stabilizers are a form of autonomous adjustment that the economy does in booms and recessions. To understand automatic stabilizers we need to first know how fiscal policy works and know what a busi...
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Answered by Giorgio O. • Economics tutor
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Why is the derivative of 2^x not x*2^(x-1)?

That technique for calculating derivatives only works for polynomial terms, that is terms of the form x^n, where n is some number. Here though our variable x is in the exponent, and so the term is not polyno...
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Answered by Josh G. • Maths tutor
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"'Gladstone's attack on Disraeli's foreign policy was the most important reason for the Conservative defeat in the 1880 election.' How far do you agree? [50]" - How would one write an introduction to this essay question?

The introduction of an essay of this nature should aim to answer the question in relatively simplistic terms, in order to provide a basic outline which can be elaborated on throughout the body of the essay. ...
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Answered by Edward G. • History tutor
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