Briefly describe and explain how the Monetary Policy Committee impacts the inflation rate. Explain the effectiveness of fiscal policy in economics. Identify and briefly explain the main effects of decreasing interest rates on the economy. Identify and describe the four stages of the ‘Economic Cycle’.
Discuss and explain the macroeconomic effects ‘ the Covid-19 lockdown’ has had on the UK economy officially leaving the EU as of 31st December 2020 to ‘trade internationally’. Discuss the impact on consumers and businesses of trading internationally.
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