AS & A Level Economics (9708) — May–June 2023, Paper 13
30 questions · every question answerable online with instant point-by-point AI marking against the official mark scheme.
Start with Question 1 →People plant flowers in a local park. Which statement is correct? A Flowers in parks are a public good because people can enjoy them at no charge. B Flowers in parks are a public…
Answer this question and get it marked →A government decides that all non-essential businesses must close for three months due to a disease pandemic. What is an opportunity cost of this policy? A increased leisure time…
Answer this question and get it marked →The diagram shows an economy's production possibility curve. The economy produces combinations of goods and services using all available resources. [Diagram: 'services' on the…
Answer this question and get it marked →Which economic conditions are likely to encourage an increase in enterprise? interest rates profit tax consumer confidence unemployment --- --- --- --- --- A high high high high B…
Answer this question and get it marked →When is the price elasticity of demand for a product most likely to be price elastic? A A large percentage of income is spent on the product. B It is measured in the short run. C…
Answer this question and get it marked →What is most likely to cause a shift in the supply curve for rice? A a change in the price of the rice B a change in the price of meat C a change in the size of the rice industry…
Answer this question and get it marked →A free market is in disequilibrium with a shortage of a product. As the market moves towards equilibrium, what will happen to the price, the quantity demanded and the quantity…
Answer this question and get it marked →What would not cause a shift in the demand curve for a good? A a change in the price of a complement B a change in the price of a substitute C a change in the price of the good…
Answer this question and get it marked →What does joint supply mean? A A firm can choose between producing a range of different goods. B A good has multiple uses. C A good is a by-product of the production process of…
Answer this question and get it marked →When the price of a firm's product falls by 5%, its total revenue also falls by 5%. What describes the product's price elasticity of demand? A elastic B infinite C unitary D zero
Answer this question and get it marked →The table shows how an individual's weekly consumption of biscuits and coffee varies with income. income ($) biscuits (packs) coffee (cups) --- --- --- 100 0 5 150 5 10 Which…
Answer this question and get it marked →The diagram shows four supply curves. [Diagram: 'price' on the vertical axis and 'quantity' on the horizontal axis, with origin O. Four supply curves labelled W, X, Y and Z pass…
Answer this question and get it marked →Product X has a price elasticity of supply (PES) of +2, whilst product Y has a PES of +0.2. Which statement about products X and Y is correct? A X has more substitutes than Y. B A…
Answer this question and get it marked →There are 10 000 tickets available to watch a sports final at a national stadium. The initial market equilibrium ticket price is $20. The government decides to fix an effective…
Answer this question and get it marked →The diagram shows the impact of a government imposing a unit tax on a demerit good. S is the supply curve before the tax and S₁ is the supply curve after the tax. [Diagram: 'price…
Answer this question and get it marked →A government has a policy aim of reducing income inequality. It considers three policies. Which combination of policies would be most effective? an increase in the marginal rate…
Answer this question and get it marked →A Bangladeshi citizen is employed as a construction worker in Qatar. He sends some of his wages to his family in Bangladesh. How will this be recorded on Qatar's balance of…
Answer this question and get it marked →The table gives data for an economy. 2010 2011 2012 2013 2014 --- --- --- --- --- --- Gross Domestic Product (GDP) at current prices ($ billion) 200 220 240 300 320 GDP deflator…
Answer this question and get it marked →Which policy is most likely to help to correct an adverse balance on the current account of the balance of payments? A abolishing tariffs B depreciating the currency C reducing…
Answer this question and get it marked →In year 1, a country's real GDP was $500 billion. In year 2, nominal GDP rose to $577.5 billion and the prices increased by 5%. What is the real GDP in year 2? A $4.76 billion B…
Answer this question and get it marked →The table gives details of national income statistics for an economy. US$bn --- --- consumption 2000 investment 500 government expenditure 600 net exports −100 net foreign factor…
Answer this question and get it marked →The table shows the relative price of exports compared with imports expressed as an index number for an economy (2013 = 100). date index --- --- 2013 100 2014 97 2015 95 Which…
Answer this question and get it marked →Country X and country Y each allocate half of their resources towards the manufacturing of shoes, and the other half towards the manufacturing of t-shirts. Resources can be used…
Answer this question and get it marked →Which government action is least likely to prevent a fall in economic growth? A additional controls on commercial banks' lending B relaxation of rules for immigration of adult…
Answer this question and get it marked →What is the most likely cause of an outward shift of a country's aggregate demand curve? A a decrease in the competitiveness of domestically produced products B a decrease in the…
Answer this question and get it marked →The diagram shows the macroeconomic equilibrium output and price level changing from Y and P to Y₁ and P₁. [Diagram: 'price level' on the vertical axis and 'real output' on the…
Answer this question and get it marked →A country had a current account surplus of $141bn. Which policy may its government implement to reduce this surplus in the short run? A a decrease in direct taxes B a decrease in…
Answer this question and get it marked →The diagram shows aggregate demand (AD) and aggregate supply in the short run (SRAS) and the long run (LRAS). [Diagram: 'price level' on the vertical axis and 'real GDP' on the…
Answer this question and get it marked →The diagram shows that the imposition of a tariff raises a product's world price from $10 to $14. [Diagram: 'price $' on the vertical axis and 'quantity (millions)' on the…
Answer this question and get it marked →Which approach would a government be most likely to use to eliminate deflation? A an increase in direct taxes B an increase in interest rates C a reduction in indirect taxes D a…
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