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  • Economic growth, economic development, inflation, wages, real wages, unemployment

Click to read the article below and then answer the questions:

UK price rises outpace wage growth despite labour shortages

  • What is meant by inflation?

  • What is meant by real wages?

  • What is meant by wage growth? Is it increasing at the same rate as prices? Explain your answer

  • Evaluate the impact of rising prices on real wages

  • Evaluate the impact of rising prices on standards of living and economic choices

Noaf Al-Diraa, Alperton Community School

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