During 2009 the Bank of England engaged in what is known as ‘quantitative easing; by pumping more than $200Billion into the economy. Record low levels of interest rates have also been maintained within the UK economy. Quantitative easing and low interest rates were also adopted by the US.
2. University education in Singapore and throughout the rest of the world is subsidized by national governments rather than left to market forces. During 2010, several governments announced that these subsidies would be cut, stating the need to reduce large fiscal budget deficits as the reason.
- Governments generally face trade-offs between different macroeconomic policy objectives. Discuss how far a government’s macroeconomic policy decisions when faced with these trade offs are affected by the extent to which the economy is open. 
Since most of you are preparing for your A levels now, here are some tips to complement the recent e-book that I published here.