Edexcel A level Eco...
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Edexcel A level Economics Question

Posts: 10
Topic starter
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Joined: 3 years ago

Can someone give me a few points and chains to answer one of these two questions

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Answers for both would be appreciated 

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Joined: 4 years ago

For (a), some macro points could be subsidies in education and training that lead to a more productive workforce. This workforce would in turn, lead to the country becoming more competitive and nearing closer to achieving full employment. The effect of this would be an increase in disposable income, which leads to higher aggregate demand which increases the country's GDP (draw a Keynesian AD curve to show this, with AD shifting to the right). However, a drastic increase in AD can also lead to demand-pull inflation, thus subsidies will only be suitable depending on where AD in the country is; if it is already too high, this policy won't be very effective.

For macro points you should always think about GDP



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