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Economics SLMLV
Game Code: 576868
English
6
Public
Economics
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What is GDP
Gross Domestic Product
10
What will happen if inflation levels rise
The price of goods and services will increase
20
What is economic growth and why is it important
An increase in the output of an economy in the long run in order to increase productive potential and raise living standards
15
What is balance of payments stability?
The record of a countries economic transactions with other countries
15
Why is Price Stability important for an economy?
As it ensures greater economic certainty and prevents countries products from loosing international competitiveness
15
How will a rise in interest rates affect you? Who will benefit more out of a rise in these interest rate? Lenders or borrowers?
It'll be more difficult to borrow money and easier to loan money which is why the lenders will profit more than the borrowers
25
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