Oil prices have a significant effect on the consumer price index, though the correlation between oil prices and inflation is less direct than it used to be in the 1970s. St Louis Fed estimates a correlation of 0.27 between changes in the oil price and inflation. In other words, a sustained 10% rise in oil …
Summary: Wage inflation is an increase in nominal wages, meaning workers receive higher pay. Wage inflation tends to cause price inflation and higher growth. The impact of wage inflation depends on whether it is a real increase (higher than inflation) or just nominal increase (same wage increase as inflation). The effect also depends on labour …
This decision tree is a simple example of game theory for firms deciding whether to enter the market and how existing firms should respond. If firm A (new firm) does not enter the market it makes £0 profit and the incumbent firm, firm B makes £3 profit. However, if Firm A does enter the market, …
A zero-sum game is a situation where one party benefits at the equal cost of another. If we add gains and losses the net benefit will always be zero. If two players have an arm wrestle challenge, there can only be one winner and one loser. It is not possible to arm wrestle and both …
A public good has characteristics of non-rivalry and non-excludability. This means that once the good is provided, everybody benefits, and if one person benefits it doesn’t reduce the amount available to others. Public health can be seen as a public good. If you take precautions to remain healthy and not pass on Covid, you benefit …
A definition of the law of demand and explanation of why higher price leads to lower demand.
Readers Question: What are the types of unemployment? Firstly, we can make a distinction between: Supply-side unemployment (the natural rate of unemployment). These are usually microeconomic imbalances in labour markets. Demand-side unemployment (Unemployment caused by lack of aggregate demand in the economy). In recessions, we can expect demand deficient unemployment (sometimes called cyclical unemployment) to …
Over the course of history, the world has seen rapid population growth. It has enabled a rich diversity of culture, technology and improved living standards. However, population growth is increasingly coming at a cost – in particular to the environment. High population levels are contributing to the depletion of natural resources and causing widespread pollution. …
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| Cookie | Duration | Description |
|---|---|---|
| _auid | 1 year | No description |
| _ssuma | 1 month | No description |
| _tracker | 1 year 1 month | No description |
| _tt_travelaudience | 1 year 1 month | No description |
| A1 | No description | |
| A1S | No description | |
| A3 | 1 year | No description |
| anj | 3 months | No description |
| av-mid | 1 year 1 month 7 days | No description |
| av-tp-gadx | 14 days | No description |
| AWSALB | 7 days | AWSALB is a cookie generated by the Application load balancer in the Amazon Web Services. It works slightly different from AWSELB. |
| b | No description | |
| bsw_origin_init | past | No description |
| C | 1 month | No description |
| C3UID | 5 years | No description |
| C3UID-924 | 5 years | No description |
| cct | 3 months | No description |
| choco_cookie | 1 year | No description |
| cid_2a5f5021496440cfbfa0a9a64b007b71 | 1 year | No description |
| cid_5a8be7741218487ea8af9b5ad54ce0ea | 1 year | No description |
| cid_7428282cae8841d5a00d4817122125e8 | 1 year | No description |
| cid_79997bf3a4b94cf79541389feb7a8ac1 | 1 year | No description |
| cid_81888bc2475844bb88f7157d03752471 | 1 year | No description |
| cid_b6a4c45bc9a9483ba1c2410262527f12 | 1 year | No description |
| cid_cc111d03cd934c2a83d0263631753c59 | 1 year | No description |
| cid_cfd2631a46a64c15948c148ee67a6b8e | 1 year | No description |
| cid_fb246dbfcbb541cbb2836b4715ac0e88 | 1 year | No description |
| CONSENT | 16 years 6 months 20 days 16 hours | No description |
| data-g | 14 days | No description |
| demandSupplyTi | 2 years | No description |
| dspid | 1 year | No description |
| euds | session | No description |
| f_001 | 3 months | No description |
| g_001 | 1 day | No description |
| GoogleAdServingTest | session | No description |
| guid | 2 years | No description |
| i | 1 year | The purpose of the cookie is not known yet. |
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| matchgoogle | 1 month | No description |
| mts_id | 9 years 10 months 8 days | No description |
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| suid | 1 year | No description |
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