What is redshift and what does it tell us about galaxies?

Redshift is a phenomenon which causes the light from galaxies which are moving away from the Earth to have a longer measured wavelength than the emitted light. This video explains why.

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If we get a redshift effect due to the expansion of the universe "stretching out" light that travels over long distances, does that also mean that events that are observed at long distances will also appear to occur in "slow motion", due to the same effect?

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Have you got filmed exam practise paper for physics but AQA