U.K. Aggregate Supply Curve
https://ourworldindata.org/grapher/labor-productivity-per-hour-pennworldtable?time=2007..2017&country=~GBR Other Causes of Change Globalization: over the last decade in particular, the U.K. has become a lot more global. They've begun trading with a lot more foreign countries, as well as communicating with new countries. This means that they have been producing less of their own goods, which is mentioned below. This also means that they will be spending less money on their own industry, meaning that money will be spend instead on trading and foreign products. Deindustrialization: over the last decade, the U.K has produced a lot less of their own goods and services. This is mainly due to the 2008 financial crisis. In this crisis, individual companies in the U.K. lost a lot of money, meaning they had to be given money by the government in order to stay afloat. This is why they've begun trading with a lot more countries since that financial crisis as well. Since they ...
