1. Examine the graph and suggest reasons why the doomladen forecasts of "the end of work" have proved incorrect.
2. The lag of wages behind the growth of manufacturing productivity might be explained by what Sir Keith Joseph referred to as "rational expectations" J. What did he mean by this phrase?
3. What was the cause of inflation during the consumer boom of 1987-89?
4. How could the government have reduced inflationary pressures in
the economy?
5. What would have been the likely consequences of the government's actions?
