Global maritime shipping container freight rates, as measured by key industry indices, rose from under $1,000 per FEU (forty-foot equivalent unit) in early 2020 to a peak of over $10,000 per FEU in late 2021.
Evaluate the likely macroeconomic consequences for an open economy of a significant and sustained increase in global maritime freight costs.
31 exam-style questions on Edexcel A A Level Economics 2.3 Aggregate supply (AS), covering 2.3.1 The characteristics of AS, 2.3.2 Short-run AS, and 2.3.3 Long-run AS. Each one has a worked solution and a mark scheme showing where the marks go.