7 A country experienced a significant fall in unemployment but its inflation rate remained low. What could explain this? A There was an increase in expenditure on education and training. There was a...

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Extracted text: 7 A country experienced a significant fall in unemployment but its inflation rate remained low. What could explain this? A There was an increase in expenditure on education and training. There was a high level of spare capacity in the economy. C Increased spending on imports had lowered the exchange rate. Wage rates had increased by more than labour productivity.


Extracted text: Real output in an economy grows by 1.5% but at the same time the level of unemployment increases. 8. What can be deduced from this information? A Labour productivity has decreased. Actual output has grown more slowly than potential output. C Population of working age has fallen. There has been an increase in the rate of inflation.