AS & A Level Economics (9708) — October–November 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 →A factory introduces an automated production line to take advantage of division of labour. What is most likely to increase? A average cost of production B job satisfaction of…
Answer this question and get it marked →Consumers do not use enough of a product to maximise their private benefit because they have imperfect information about the product. How would an economist classify this product?…
Answer this question and get it marked →The table shows different combinations of rings and bracelets that can be produced by Luke and Zoe in the same time period. Luke: rings Luke: bracelets Zoe: rings Zoe: bracelets…
Answer this question and get it marked →What is an example of a free good? A a government sponsoring a free vaccination programme for its citizens B a hospital providing free treatment to the poor C a school providing…
Answer this question and get it marked →The diagram shows the market for computers in Pakistan. On the diagram the vertical axis is labelled 'price' and the horizontal axis 'quantity', with origin O. A demand curve…
Answer this question and get it marked →The supply curve for a firm is a horizontal straight line. What can be concluded from this statement? A Quantity supplied is infinite at the given price. B Quantity supplied is…
Answer this question and get it marked →When the incomes of consumers of good X fall by 5%, under which conditions will the demand curve shift furthest to the right? nature of good X income elasticity of demand for good…
Answer this question and get it marked →Good P and good Q are substitutes. There is a decrease in supply of good P because of a shortage of materials. Which row describes what will happen to demand? good P good Q ---…
Answer this question and get it marked →The pressure to reduce the use of fossil fuels has led to oil companies reducing the level of investment in the exploration of new reserves. What will be the long-run effect of…
Answer this question and get it marked →The price elasticity of demand for a product is −0.6. The supplier wants to clear all surplus stock of a product and reduces the price of a good by 50%. What is the effect of this…
Answer this question and get it marked →A firm is producing 100 units at a price of $10. The price elasticity of supply is 0.5 and the price is raised to $12. What is the new level of output? A 75 B 110 C 125 D 150
Answer this question and get it marked →In a town, bus fares fall by 50% and this leads to an increase in bus use by 30%. The effect on car use is very low with only a 1% reduction. What is the value of the…
Answer this question and get it marked →In the diagram, the demand and supply curves for wheat in Australia are shown. Initial equilibrium is at X. The government imposes a sales tax on wheat at the same time as…
Answer this question and get it marked →A free market is currently experiencing excess supply at a price of P₁. What will be the effect on the current market situation if a maximum price is set above P₁? A The excess…
Answer this question and get it marked →What is a likely disadvantage of a government’s provision of transfer payments to the unemployed? A decrease in the standard of living B disincentive to accept paid work C…
Answer this question and get it marked →Which combination of policies would increase the inequality of the distribution of income and wealth? progressive taxes minimum wage transfer payments --- --- --- --- A decrease…
Answer this question and get it marked →Which changes will increase the circular flow of income? higher imports higher investment higher taxation --- --- --- --- A yes no no B yes yes no C no yes yes D no yes no
Answer this question and get it marked →An economy in equilibrium has a trade deficit of $20bn and a budget surplus of $20bn. Investment spending is $50bn. What is the total saving? A $5bn B $10bn C $15bn D $20bn
Answer this question and get it marked →A finance company incurs heavy losses and makes an accountant redundant. The accountant seeks a new job through an employment agency which specialises in jobs in accounting. What…
Answer this question and get it marked →An aggregate demand curve slopes downwards from left to right. One reason for this is that a reduction in the average price level will lead to A a decline in the country’s…
Answer this question and get it marked →Which components are included as primary income in the current account of the balance of payments? trade in goods current transfers employment income from abroad --- --- --- --- A…
Answer this question and get it marked →What is not included in the measurement of national income? A dividends paid to shareholders B overtime payments C rents from government-owned houses D welfare benefit payments
Answer this question and get it marked →The graph shows the rate of inflation for seven countries for 2015 and 2016. The bar chart shows, for each country, a light-grey bar for 2015 and a dark-grey bar for 2016 (see…
Answer this question and get it marked →Country R and country S are going to trade 1 unit of product X for ½ unit of product Y. With a given amount of resources: - country R can produce either 30 units of product X or…
Answer this question and get it marked →What is the most likely cause of a current account deficit on the balance of payments? A an undervalued exchange rate B a relatively low rate of inflation C a shrinking domestic…
Answer this question and get it marked →The diagram shows the long-run aggregate supply (LRAS) and aggregate demand (AD) curves for an economy. On the diagram the vertical axis is the price level and the horizontal axis…
Answer this question and get it marked →The government undertakes a policy of financing training and retraining for unemployed workers. Which terms are most likely be used to classify this policy? demand-side…
Answer this question and get it marked →Which combination of initial equilibrium and supply-side policy is likely to be least effective when attempting to increase the real output of an economy? initial equilibrium real…
Answer this question and get it marked →A government aims to reduce unemployment through expansionary fiscal policy and borrows more from the commercial banks, increasing its borrowing requirement. What will be the…
Answer this question and get it marked →A government wants to use an expansionary monetary policy. What should the government increase? A credit regulations B the exchange rate C the interest rate D the money supply
Answer this question and get it marked →← October–November 2023 Paper 21 · October–November 2023 Paper 12 →