AS & A Level Economics (9708) — May–June 2023, Paper 21

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Question 1 · 20 marks · The macroeconomy - employment and unemployment

Using the data in Fig. 1.1, calculate the change in India's unemployment rate between July 2020 and May 2021.

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Question 2 · 20 marks · Basic economic ideas - production possibility curves

With the help of a diagram, explain the difference between the causes of a movement along, and a shift of, a production possibility curve (PPC) and consider which is likely to…

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Question 3 · 20 marks · The price system and the microeconomy - elasticity (cross elasticity of demand)

With the help of a formula, explain the meaning of cross elasticity of demand and consider which determinants are most important in establishing the size and sign of its…

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Question 4 · 20 marks · The macroeconomy - inflation (cost-push and demand-pull)

With the help of an AD/AS diagram(s), explain cost-push inflation and demand-pull inflation in an economy and consider in what circumstances one may be more damaging than the…

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Question 5 · 20 marks · The macroeconomy - exchange rates (depreciation of a floating exchange rate)

With the help of a diagram(s), explain the likely causes of a depreciation of a floating exchange rate and consider whether such a depreciation is always beneficial to an economy.

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