What is the relationship between the cost of living and inflation? Your task is to write a structured essay in which you explain and analyse the above article in terms of course concepts and apply what you learned in the time of COVID-19. You are expected to answer the four parts of the following question:

Part (a) Give an updated brief description of the cost of living situation in the country you are living in. 

Part (b) Analyse the situation you describe in part (a), using economic theories and concepts from Chapter 1 Running the Economy text book. 

Part (c) Discuss the economic and social implications of the cost of living described above in (a) and (b) in the light of COVID-19. 

Part (d) Discuss what policy makers could learn from your description and analysis in parts (a) to (c). 

Answer rating: 100% (QA)

A Kenya has a 52 percent lower cost of living than the United Kingdom Food in Kenya is 48 less expensive than in the United Kingdom Housing in Kenya is 44 percent less expensive clothing is 55 percent ... View the full answer