Jake P. A Level Economics tutor, GCSE Economics tutor, GCSE Maths tutor

Jake P.

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Economics (Bachelors) - Exeter University

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About me

Having achieved a high A* and A at A level in Economics and Maths respectively I feel confident in my knowledge of the subjects and I look forward to helping others by passing on the techniques that I learned first hand, which improved my grades significantly. As a student at a renowned Russel Group University my wider knowledge on the subjects enables me to provide greater insight when teaching these topics. 

Having achieved a high A* and A at A level in Economics and Maths respectively I feel confident in my knowledge of the subjects and I look forward to helping others by passing on the techniques that I learned first hand, which improved my grades significantly. As a student at a renowned Russel Group University my wider knowledge on the subjects enables me to provide greater insight when teaching these topics. 

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Personally interviewed by MyTutor

We only take tutor applications from candidates who are studying at the UK’s leading universities. Candidates who fulfil our grade criteria then pass to the interview stage, where a member of the MyTutor team will personally assess them for subject knowledge, communication skills and general tutoring approach. About 1 in 7 becomes a tutor on our site.

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Qualifications

SubjectQualificationGrade
EconomicsA-level (A2)A*
MathsA-level (A2)A
BiologyA-level (A2)A
ChemistryA-level (A2)B
General StudiesA-level (A2)B

Subjects offered

SubjectQualificationPrices
EconomicsA Level£20 /hr
EconomicsGCSE£18 /hr
MathsGCSE£18 /hr

Questions Jake has answered

What effect would a fall in the interest rate have on GDP?

GDP (output) is affected by consumption, investment, government spending and net exports. A fall in the interest rate have a varying effect upon each of these. Consumption is likely to increase as saving becomes less worthwhile and therefore spending become relatively cheaper, increasing GDP. Investment will also increase as in order to invest in capital equipment, firms must take out loans as it is usually very expensive and they do not have the necessary liquidity. A fall in the interest rate will mean a fall in the repayments on these loans, making the capital equipment cheaper. As consumer expenditure increases, firms are also more likely to further increase investment as confidence and expectations rise, therefore a rise in GDP will occur. The effect on net exports is likely to depend on the real interest rate. Whilst a fall in the interest rate will weaken the pound, increasing exports and reducing imports, if this happens in other countries that compete with the domestic country the effects may be cancelled out. The diminishing rate of marginal returns must also be considered. If the interest rate has already fallen dramatically, a small further change is unlikely to have any significant effect. Finally tthe multiplier effect should be considered. Whilst a large multiplier will emphasize the effect on GDP of a change in one of its components, a small one (less than 0) will minimise them.

GDP (output) is affected by consumption, investment, government spending and net exports. A fall in the interest rate have a varying effect upon each of these. Consumption is likely to increase as saving becomes less worthwhile and therefore spending become relatively cheaper, increasing GDP. Investment will also increase as in order to invest in capital equipment, firms must take out loans as it is usually very expensive and they do not have the necessary liquidity. A fall in the interest rate will mean a fall in the repayments on these loans, making the capital equipment cheaper. As consumer expenditure increases, firms are also more likely to further increase investment as confidence and expectations rise, therefore a rise in GDP will occur. The effect on net exports is likely to depend on the real interest rate. Whilst a fall in the interest rate will weaken the pound, increasing exports and reducing imports, if this happens in other countries that compete with the domestic country the effects may be cancelled out. The diminishing rate of marginal returns must also be considered. If the interest rate has already fallen dramatically, a small further change is unlikely to have any significant effect. Finally tthe multiplier effect should be considered. Whilst a large multiplier will emphasize the effect on GDP of a change in one of its components, a small one (less than 0) will minimise them.

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3 years ago

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