Column 1 is a list of economic terms - Leaving Cert Business - Question 8 - 2013
Question 8
Column 1 is a list of economic terms. Column 2 is a list of possible explanations for these economic terms. (One explanation does not refer to any of the economic t... show full transcript
Worked Solution & Example Answer:Column 1 is a list of economic terms - Leaving Cert Business - Question 8 - 2013
Step 1
1. Exchange Rate
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Answer
The Exchange Rate is defined as E: The price of one currency expressed in terms of another currency.
Step 2
2. Interest Rate
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Answer
The Interest Rate is described as F: The cost of borrowing money.
Step 3
3. Taxation
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Answer
Taxation is measured by D: Can be progressive or regressive.
Step 4
4. Economic Growth
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Answer
Economic Growth is indicated by A: The increase in the value of goods and services produced in an economy from one year to the next.
Step 5
5. Inflation
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Answer
Inflation is measured by B: Is measured by the Consumer Price Index (CPI).
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