In March 2023, the Canadian inflation rate was 4.3%, the rate of unemployment was 5.0%, while the Bank of Canada's policy interest rate remained at 4.5%.
Explain two economic consequences for an individual and two economic consequences for the wider economy of a sustained increase in the price level.
327 exam-style questions on AQA A Level Economics 2.3 Economic performance, covering 2.3.1 Economic growth and the economic cycle, 2.3.2 Employment and unemployment, 2.3.3 Inflation and deflation, and 2.3.4 Possible conflicts between macroeconomic policy objectives. Each one has a worked solution and a mark scheme showing where the marks go.