CSEC Economics · May/June 2016 · Paper 2 · Question 7(b)
Identify TWO withdrawals from the circular flow of income.
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- 7(a)Define the term 'recession'.[2 marks]
- 7(c)List THREE types of unemployment.[3 marks]
- 7(d)Explain TWO ways in which fiscal policy can be used to reduce unemployment in the tourism sector.[8 marks]
- 7(e)(i)Calculate the real output.[3 marks]
- 7(e)(ii)State what the retail price index implies about inflation.[2 marks]
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