(a)[1]
In which year did retail sales in the US stop rising?
(b)[3]
Compare the trend in sales between the US and the Euro area from 1999 to 2001.
(c)[4]
Draw a budget line diagram and explain how it might be used to demonstrate
- reducing the price of a product [2]
- a reduction in income. [2]
(d)[4]
Briefly explain the equi-marginal principle of utility and consider whether it still holds if consumers use cash more often and credit cards less often.
(e)[8]
Unemployment is often claimed to be a disadvantage for all businesses. Assess whether the article gives evidence to support this view.