AS & A Level Economics (9708) — May–June 2023, Paper 11
28 questions · every question answerable online with instant point-by-point AI marking against the official mark scheme.
Start with Question 1 →What is 'a produced means of further production'? A capital B enterprise C labour D land
Answer this question and get it marked →A hospital management board decides to reallocate $800 000 from its $1.2m new buildings budget to spend on cancer care. What is the opportunity cost of this decision? A a cost of…
Answer this question and get it marked →The diagram shows the change in a country's production possibility curve from XX to YY. [Diagram: the vertical axis is 'food' and the horizontal axis is 'drink', with origin O.…
Answer this question and get it marked →A factory manufactures chairs. The manufacturing process is divided into a number of tasks. What is a likely disadvantage of this division of labour? A decrease in motivation B…
Answer this question and get it marked →Which row correctly describes the relationship between two goods implied by the value of the cross elasticity of demand? value of the cross elasticity of demand description ---…
Answer this question and get it marked →What does consumer surplus measure? A the excess profit earned by the producer of a good B the opportunity cost to the consumer of not buying a good C the price the marginal…
Answer this question and get it marked →When the price of good X is $2.00, the quantity supplied is 100 000. The price elasticity of supply of good X is 0.8 in the short run and 1.4 in the long run. The price of good X…
Answer this question and get it marked →The diagram shows the European market for diesel fuel and the original equilibrium is at M. [Diagram: the vertical axis is price and the horizontal axis is quantity, with origin…
Answer this question and get it marked →In which situation is the demand for a product said to be price elastic? A The quantity demanded responds to a change in price. B An increase in price brings about a decrease in…
Answer this question and get it marked →Golf club membership fees in Singapore have risen as a result of restrictions on travel to cheaper golf courses in neighbouring countries and the closure of some local courses.…
Answer this question and get it marked →The diagram shows the demand and supply curves for solar energy in India. The initial equilibrium point is at X. The Indian government increases the subsidy to solar energy…
Answer this question and get it marked →A specific tax is placed on the sale of bottles of lemonade. In the diagram, S is the supply curve before imposition of the tax and St is the supply curve after tax. [Diagram: the…
Answer this question and get it marked →Demand for medical face masks exceeds supply during a disease outbreak. What is the most likely cause of this excess demand? A Some consumers do not have effective demand. B The…
Answer this question and get it marked →The diagram shows the demand and supply curves for a good. [Diagram: the vertical axis is price and the horizontal axis is quantity, with origin O. An upward-sloping supply curve…
Answer this question and get it marked →Which statement correctly describes absolute advantage? A It is when a country has a higher opportunity cost in producing a good than another country. B It is when a country has a…
Answer this question and get it marked →The table shows the income and wealth of Yasmin. items $ --- --- children's welfare benefits 1 000 dividends from shares 1 000 property owned 40 000 savings in bank 1 000 shares 2…
Answer this question and get it marked →Which group is most likely to suffer during high inflation? A borrowers B importers C producers D fixed wage earners
Answer this question and get it marked →Which statement explains why the aggregate demand curve is downward sloping? A As prices fall, the demand for exports becomes more elastic. B As prices fall, fewer goods are…
Answer this question and get it marked →The diagram shows the aggregate demand (AD) and aggregate supply (AS) for an economy. [Diagram: the vertical axis is 'general price level' and the horizontal axis is 'real…
Answer this question and get it marked →The graph gives the percentage unemployed for all people aged 16 and over, and for young people aged 16-24. [Graph: the vertical axis is 'percentage unemployed' (scaled 0 to 30)…
Answer this question and get it marked →In the diagram, the intersection of AD and LRAS at point X represents the current macroeconomic equilibrium. [Diagram: the vertical axis is 'general price level' and the…
Answer this question and get it marked →The diagram shows production possibility curves for two countries, India and Japan. [Diagram: the vertical axis is 'rice' (with values 0, 500 and 600 marked) and the horizontal…
Answer this question and get it marked →A country's currency has depreciated against all the currencies of its main trading partners. How will the depreciation affect its terms of trade? A The terms of trade will…
Answer this question and get it marked →A country with a floating exchange rate experiences a large surplus on the current account of its balance of payments. What is likely to decrease as a consequence? A the exports…
Answer this question and get it marked →Which measure is aimed directly at promoting international trade? A decreasing existing quotas B increasing interest rates C subsidies paid to export industries D wage subsidy…
Answer this question and get it marked →What would be classified as a supply-side policy measure? A a law to reduce the power of trade unions B a reduction in the government's fiscal deficit C an open market sale of…
Answer this question and get it marked →What is the equivalent of a country's national debt? A the accumulated borrowing of the government B the difference between government spending and taxation C the interest paid by…
Answer this question and get it marked →A country experiences a fall in the value of exports and an increase in the value of imports of goods and services. What are the effects of these changes? aggregate demand balance…
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