NSC Economics Inflation: 1.3.1 The withdrawal of money fr

1.3.1 The withdrawal of money from the circular flow 1.3.2 A summary of the various indicators of the same type into a single value 1.3.3 The exchange rate is determined by market forces with intervention by the central bank 1.3.4 The increase in the capacity of the economy to produce more goods and services 1.3.5 The processing of natural resources into finished products 1.3.6 The lowest interest rate charged by commercial banks to their best clients - NSC Economics - Question 1 - 2023 - Paper 1

Question 1

1.3.1 The withdrawal of money from the circular flow 1.3.2 A summary of the various indicators of the same type into a single value 1.3.3 The exchange rate is determ... show full transcript

Worked Solution & Example Answer:1.3.1 The withdrawal of money from the circular flow 1.3.2 A summary of the various indicators of the same type into a single value 1.3.3 The exchange rate is determined by market forces with intervention by the central bank 1.3.4 The increase in the capacity of the economy to produce more goods and services 1.3.5 The processing of natural resources into finished products 1.3.6 The lowest interest rate charged by commercial banks to their best clients - NSC Economics - Question 1 - 2023 - Paper 1

Step 1

1.3.1 Give the term for: The withdrawal of money from the circular flow.

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Answer

Leakages

Step 2

1.3.2 Give the term for: A summary of the various indicators of the same type into a single value.

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Answer

Composite indicator

Step 3

1.3.3 Give the term for: The exchange rate is determined by market forces with intervention by the central bank.

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Answer

Managed floating / Controlled floating

Step 4

1.3.4 Give the term for: The increase in the capacity of the economy to produce more goods and services.

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Answer

Economic growth

Step 5

1.3.5 Give the term for: The processing of natural resources into finished products.

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Answer

Manufacturing

Step 6

1.3.6 Give the term for: The lowest interest rate charged by commercial banks to their best clients.

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Answer

Prime rate

1.3.1 Give the term for: The withdrawal of money from the circular flow.

1.3.2 Give the term for: A summary of the various indicators of the same type into a single value.

1.3.3 Give the term for: The exchange rate is determined by market forces with intervention by the central bank.

1.3.4 Give the term for: The increase in the capacity of the economy to produce more goods and services.

1.3.5 Give the term for: The processing of natural resources into finished products.

1.3.6 Give the term for: The lowest interest rate charged by commercial banks to their best clients.

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