AS & A Level Economics (9708) — October–November 2023, Paper 11
30 questions · every question answerable online with instant point-by-point AI marking against the official mark scheme.
Start with Question 1 →What will help solve the basic economic problem? A the control of the market system B the efficient allocation of scarce resources C the preservation of a healthy environment D…
Answer this question and get it marked →Country Z operates with a production possibility curve (PPC). Currently, output is at combination 1. [Diagram: axes 'good Y' (vertical) and 'good X' (horizontal), origin O. A…
Answer this question and get it marked →A country's health care is funded by taxation but can be used free of charge by patients. Which type of good is health care in this country? A demerit good B free good C private…
Answer this question and get it marked →What is least likely to increase as a result of a transition from a planned economy to a free market economy? A prices of goods and services B privately owned resources C…
Answer this question and get it marked →Which statement correctly describes the area of producer surplus on a demand and supply diagram? A It is above the supply curve and below the equilibrium price line. B It is above…
Answer this question and get it marked →The diagram shows a demand curve for pineapples. [Diagram: axes 'price ($)' (vertical, marked 0, 0.5, 1, 1.5, 2) and 'quantity (000s)' (horizontal, marked 0, 3, 6, 9, 12). A…
Answer this question and get it marked →In a free market, there is a surplus of a good. Which change would cause the market to come to an equilibrium? A a decrease in demand B a fall in price C a government minimum…
Answer this question and get it marked →The cross-elasticity of demand between good P and good Q is −0.4. The cross-elasticity of demand between good P and good R is +0.6. Which combination of goods is most likely to be…
Answer this question and get it marked →The supply, S, of a product is determined by the equation S = 10 + 10P where P is the price of the product in $. What is the product's price elasticity of supply when its price…
Answer this question and get it marked →In the diagram, the supply curve shows the number of spaces in a car park and the demand curves show the demand for spaces on four different days, D1, D2, D3 and D4. [Diagram:…
Answer this question and get it marked →The table shows the demand schedule for textbooks. price $ quantity demanded --- --- 50 0 40 100 30 200 20 300 10 400 0 500 What can be concluded from this information? A Profit…
Answer this question and get it marked →Which event is most likely to enable firms to respond to an increase in demand by increasing supply rather than by raising price? A Firms reduce their expenditure on the training…
Answer this question and get it marked →In the diagram, S1 is the supply curve and D1 is the initial demand for facemask X. A rival firm produces facemask Y, which is a close substitute. [Diagram: axes 'price of…
Answer this question and get it marked →A government introduces charges for vehicles using the roads in its capital city. Which characteristic must the roads have for this to be successful in reducing congestion? A The…
Answer this question and get it marked →The table shows the tax an individual would pay at different levels of income. annual income ($) tax paid ($) --- --- 20 000 1 000 30 000 3 000 40 000 6 000 50 000 8 000 60 000 12…
Answer this question and get it marked →A government has increased output with no effect on the price level. [Diagram: axes 'price level' (vertical) and 'output' (horizontal), origin O. An aggregate supply curve AS is…
Answer this question and get it marked →What is not included in the measurement of national income? A benefits paid to the unemployed B dividends paid to shareholders C profits retained by companies D rent paid to…
Answer this question and get it marked →Four students have to fill in the gaps in the sentence shown. 'A person is defined as unemployed if they are ......1...... to work at ......2...... wage rate, but cannot find a…
Answer this question and get it marked →Which statement best describes the consumer prices index (CPI)? A It is a measure of changes in the spending patterns of the average household. B It is a measure of changes in the…
Answer this question and get it marked →The diagram shows the production possibility curves (PPCs) for country X and country Y, the only two countries in the world. Both countries produce just two goods, M and N.…
Answer this question and get it marked →Why is increased government provision of education most likely to shift the aggregate demand curve to the right? A It will increase aggregate supply. B More schools will be built.…
Answer this question and get it marked →Which item is not included in the current account of a country's balance of payments? A exports of services B interest on foreign loans C profits from foreign investments D the…
Answer this question and get it marked →Under which conditions will nominal GDP and real GDP increase at the same rate in an economy? rate of change of national output (% per annum) rate of change of general price level…
Answer this question and get it marked →General equilibrium in the macroeconomy is achieved when total injections are equal to total leakages. What is most likely to cause disequilibrium in the macroeconomy in the short…
Answer this question and get it marked →What would be the most likely reason for a decrease in frictional unemployment? A more capital-intensive manufacturing B more demand for public sector workers C more government…
Answer this question and get it marked →A Kenyan banker who lives and works in India sends 15% of their wage back to Kenya every month. What would be the change in the current account components for either country? A a…
Answer this question and get it marked →Over a period of a year, the annual rate of inflation becomes negative. Which statement must be correct? A The cost of living has fallen. B The purchasing power of money has…
Answer this question and get it marked →The government of a country plans to raise income tax rates. The initial equilibrium for the country is represented by point X on the diagram. [Diagram: axes 'price level'…
Answer this question and get it marked →Which combination would represent the most expansionary set of monetary policies? credit availability interest rates money supply --- --- --- --- A increased up reduced B…
Answer this question and get it marked →An economy is experiencing accelerating cost-push inflation. Which group is likely to be least concerned by this? A borrowers B consumers C creditors D exporters
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