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describe expansionary and contractionary fiscal policies identify the situations in which expansionary fiscal policy
1give two examples of positive statements about the economy and two examples of normative ones now give two examples
1for what reasons might the price of foreign holidays rise in each case identify whether these are reasons affecting
1if both demand and supply change and if we know which direction they have shifted but not how much why is it that we
1if you were the owner of a clothes shop how would you set about deciding what prices to charge for each garment at the
1is there any truth in the saying that the price of a good is a reflection of its
1assume that oil begins to run out and that extraction becomes more expensive trace through the effects of this on the
1why are both the price elasticity of demand and the price elasticity of supply likely to be greater in the long
suppose you alert your boss to the security threats in figure 12-1 and to the safeguards in figure 12-2 suppose he says
which of the following will have positive signs and which will have negative onesnbspa price elasticity of demandnbspb
1what are the advantages and disadvantages of speculation from the point of view ofnbspa the consumernbspb
1think of two things that are provided free of charge in each case identify whether and in what form a shortage might
1if the government increases the tax on a liter of petrol by 5p what will determine the amount by which the price of
1illustrate on four separate diagrams as in figure the effect of different elasticitys of demand and supply on the
1why are agricultural prices subject to greater fluctuations than those of manufactured
compare the relative benefits of subsidies and high minimum prices as under the cap toa the consumernbspb the
1the eu is more than self sufficient in a number of commodities does this mean that the objectives of the cap have been
1do rising world food prices make the cap
1is it reasonable to assume that people seek to equate the marginal utilityprice ratios of the goods that they purchase
1consider situations where you might consider swapping items with someone why are such situations relatively rare can
1explain why the price of a good is no reflection of the total value that consumers put on
1a countrys central bank eg the bank of england or the us federal reserve bank has a key role in ensuring the stability
1distinguish between a normal good an inferior good and a giffen good use indifference curves to illustrate your
1choose two industries that you believe are very different identify factors used in those industries that in the short
1taking the same industries identify as many economies of scale as you