Balance of payments. The UK balance of payments current account for Q1 (2020) is sitting £-2.1 billion This article will explain what the balance of payments is and will explain its components including the current account and the balance of trade in goods and services. Welcome to Simply Economics. This article is the fourth in […]
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Employment and unemployment. This article will explain what unemployment is and how it is measured. Furthermore, the article will discuss the causes of unemployment and the difference between unemployment and underemployment. WHAT IS EMPLOYMENT AND UNEMPLOYMENT? There are a few technical terms needed to understand what employment and unemployment is: Workforce – The number of
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Inflation. This article will explain the basic principles of CPI inflation and will define basic terms such as inflation, deflation, and disinflation. Furthermore, the article will expound upon why inflation is important and how it is manipulated. Welcome to Simply Economics. This article is the second in a series to explain economics to those who
What is GDP and how is it measured? GDP dropped over 20% in April in the UK. This article will explain what GDP is and will discuss a few limitations of GDP. Welcome to Simply Economics. This article is the ninth in a series to explain economics to those who want to broaden their scope
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