Gender pay gap

80% of UK companies and public sectors organisations pay women less than men.

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Recession - definition

A recession is a measured decline in real national income sustained for at least two consecutive quarters, where GDP is the commonest measure of national income.

recession diagram

A recession will cause several economic problems, including falling living standards, rising unemployment and price deflation, and for this reason macro-economic policy will target the avoidance of a recession as its main objective.

Even though targeting inflation is commonly thought of the primary function of monetary policy, a target rate of 2% will encourage some growth and ensure that recession, deflation and unemployment are avoided.  

WTO rules

What exactly is the 'most favoured nation' rule?

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Model agencies collude to fix rates

Regulators find leading model agencies guilty of price fixing.

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Customs unions

Costs and benefits of customs unions.

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New materials

Multiple choice papers for Paper Three.

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Savings ratio

Savings ratio falls to lowest level on record.

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