Economic development (3)

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1.

Explain the different types of exchange rate regimes and discuss the advantages and disadvantages of each for a small, open economy.

2.

The UK economy experienced a period of low inflation following the 2008 financial crisis. Discuss the extent to which the use of monetary indicators (such as the Money Supply, Bank Rate, and Inflation) provides a reliable picture of economic performance during this period. Consider the limitations of these indicators.

3.

Using a table, compare and contrast the key features of a less developed economy and a highly developed economy. Consider factors such as economic structure, income levels, and levels of human development.