AS & A Level Economics (9708) — May–June 2024, Paper 12
30 questions · every question answerable online with instant point-by-point AI marking against the official mark scheme.
Start with Question 1 →The diagram shows a production possibility curve (PPC). It indicates the combinations of consumer goods and capital goods produced by an economy using all its available resources.…
Answer this question and get it marked →What is produced in a mixed economy but not in a free market economy? A demerit goods B free goods C private goods D public goods
Answer this question and get it marked →Earth observation satellites designed to acquire information are close to the theoretical case of a public good. In 2011, the World Meteorological Organisation estimated that…
Answer this question and get it marked →What is the opportunity cost of a virus to the healthcare service in a country? A increased number of hospital patients B increased use of personal protective equipment C…
Answer this question and get it marked →The share of total incomes from profit in a country shows more variation over time than incomes from interest, rent and wages. What is the most likely reason for this? A Interest…
Answer this question and get it marked →Changes in the market for gasoline (petrol) in Zimbabwe resulted in fuel shortages and long queues. Which combination of changes would have been certain to cause this situation?…
Answer this question and get it marked →The diagram shows the movement of the supply curve for a product from S₁ to S₂. [Diagram: axes with 'price' on the vertical axis and 'quantity' on the horizontal axis, origin O.…
Answer this question and get it marked →The tables show the different quantities of a good demanded at different prices and levels of income. price $ quantity demanded --- --- 5 9 4 10 3 20 2 40 1 120 income $ quantity…
Answer this question and get it marked →In Asia, instant noodles is an inferior good because dried fruit is a better quality substitute. The diagram shows the demand for instant noodles. [Diagram: 'price of instant…
Answer this question and get it marked →The diagram shows the impact of an increase in the price of a product from P₁ to P₂. [Diagram: 'price' on the vertical axis and 'quantity demanded' on the horizontal axis, origin…
Answer this question and get it marked →Which reason for the increase in demand for a smartphone is an example of joint demand? A a fall in its price B a fall in the price of connecting to a network C a fall in the…
Answer this question and get it marked →A market is in equilibrium. The government intervenes by creating a price floor below which the market price cannot fall. Which term describes this form of government…
Answer this question and get it marked →What is an example of a public good? A a new road linking a major city with a port B free lunches provided to students at a school C Wi-Fi (internet access) provided for all the…
Answer this question and get it marked →The diagram shows an initial market equilibrium for an agricultural product of $6 and 800 units. [Diagram: 'price ($)' on the vertical axis (values 0, 6 and 10 marked) and…
Answer this question and get it marked →Which government policy will increase aggregate demand? A raising indirect taxation B reducing the budget surplus C removing domestic subsidies D removing import quotas
Answer this question and get it marked →The table gives the value of the price index of an economy in two years. year price index --- --- 1 60 2 120 What can be concluded about the period? A Nominal income doubled. B…
Answer this question and get it marked →What causes a rise in cost-push inflation? A a fall in the rate of income tax B a rise in the rate of income tax C a depreciation of the exchange rate D an appreciation of the…
Answer this question and get it marked →Which change affecting an economy's labour force will cause an increase in economic growth in the short run? A an increase in students entering university B an increase in the…
Answer this question and get it marked →Which factor explains the difference between GDP and GNI? A foreign investment in the domestic automobile industry B revenues received from exporting capital goods C revenues…
Answer this question and get it marked →What is true about a government's macroeconomic objectives? A Economic growth ensures a more even distribution of income. B Increasing output ensures that more workers are…
Answer this question and get it marked →The original equilibrium in the economy is represented by point X, the intersection of AD₁ and AS₁, on the AD/AS diagram shown. The government decreases the money supply. What is…
Answer this question and get it marked →How does a government use its central bank to promote an expansionary monetary policy? A increasing interest rates for commercial banks B increasing the interest rate on the…
Answer this question and get it marked →Which combination of problems would be most likely to cause a country's government to reduce taxation and lower interest rates? A demand-pull inflation and a balance of payments…
Answer this question and get it marked →What would be the best policy for a country to reduce a balance of payments deficit? A an increase in interest rates B an increase in the exchange rate C a reduction in direct…
Answer this question and get it marked →A government wants to protect its textile industry from imports. Which policy is likely to have the least impact on the import of textiles? A a ban on the import of textiles B a…
Answer this question and get it marked →A major European economy announced that the primary income account deficit of its balance of payments changed from $20 billion to $50 billion. What would have contributed to this…
Answer this question and get it marked →The diagram shows the amounts of cotton and butter that can be produced in countries X and Y with a given quantity of resources. [Diagram: 'units of cotton' on the vertical axis…
Answer this question and get it marked →What is indicated by an economy's terms of trade? A the degree of its dependence on imports B the international competitiveness of its exports C the purchasing power of its…
Answer this question and get it marked →What will cause an increase in the demand for the US dollar($)? A dividends paid from US firms to foreign shareholders B foreign firms buying US firms C foreigners who live in the…
Answer this question and get it marked →What is not included in the current account of the balance of payments? A international aid B trade in goods C trade in services D foreign direct investment
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