AS & A Level Economics (9708) — May–June 2024, Paper 32
30 questions · every question answerable online with instant point-by-point AI marking against the official mark scheme.
Start with Question 1 →The table shows the total utility gained by a consumer from the consumption of water. quantity consumed / bottles total utility --- --- 0 0 1 30 2 40 3 48 4 54 5 58 What can be…
Answer this question and get it marked →A consumer has $100 to spend on two products, X and Y. The budget line shows the different possible combinations of products X and Y that can be purchased when all the consumer’s…
Answer this question and get it marked →Which combination of costs and benefits will lead to an increase in net social costs? private benefits external benefits private costs external costs --- --- --- --- --- A falls…
Answer this question and get it marked →A firm increases its output, starting from zero. How will this affect its short-run marginal cost (MC), average total cost (ATC) and average fixed cost (AFC)? MC ATC AFC --- ---…
Answer this question and get it marked →Assuming the absence of price controls, in which industry is an individual firm least likely to be able to alter the price at which it sells its product? A air transportation B…
Answer this question and get it marked →A firm has the choice between five levels of output. The table shows the total cost and total revenue of producing at each output level. The firm could sell whatever output it…
Answer this question and get it marked →The diagram shows the costs and benefits of producing steel in a free market. [Diagram: axes labelled ‘cost, benefit’ (vertical) and ‘output’ (horizontal), origin O. Two…
Answer this question and get it marked →What is likely to make it more difficult for a small firm to survive? A increased preference on the part of consumers for distinctive non-standardised products B reductions in the…
Answer this question and get it marked →A market structure in which a small number of firms face competition from potential entrants. What does this describe? A a contestable market B a monopoly C monopolistic…
Answer this question and get it marked →What is an example of backward vertical integration? A a bakery buying a wheat farm B a car manufacturer buying a car showroom C a vineyard buying an apple orchard D two rival…
Answer this question and get it marked →A government wants to introduce a policy that will reduce the pollution caused by the production of a good. Which policy would not make use of market forces? A a quota to limit…
Answer this question and get it marked →The table shows the annual percentage change in the output per worker employed for four nationalised industries before and after privatisation. nationalised industry before…
Answer this question and get it marked →Most workers in a country are employed in the manufacturing sector where they are paid a fixed wage rate per hour. What will lead to an increase in the net advantage of workers…
Answer this question and get it marked →When will a profit-maximising firm employ the optimum number of workers? A when the average revenue product of labour equals the average cost of hiring workers B when the marginal…
Answer this question and get it marked →The diagram shows the labour market for farm workers in New Zealand. [Diagram: ‘wage rate’ on the vertical axis and ‘quantity of labour’ on the horizontal axis, origin O. An…
Answer this question and get it marked →What is not a function of a commercial bank? A to help firms raise finance B to hold cash on deposit for firms C to lend money to households D to provide savings accounts
Answer this question and get it marked →In 2020 in a country, the unemployment rate of the 16–64 age group seeking work was 4.0%. The employment rate for this group in the same period was 76.6%. What can be concluded…
Answer this question and get it marked →Which statement relating to unemployment benefits provided by a government is not valid? A They allow firms to dismiss workers as unemployment benefits provide support to…
Answer this question and get it marked →Country X has a marginal propensity to consume (MPC) of 0.7. Its marginal propensity to save (MPS), marginal rate of taxation (MRT) and marginal propensity to import (MPM) are…
Answer this question and get it marked →The diagrams show the performance of an economy using different measures. [Diagrams: three separate diagrams. (1) A production possibility curve with ‘goods’ on the vertical axis…
Answer this question and get it marked →Which row correctly identifies the characteristics of an economy experiencing the liquidity trap? rate of economic growth rate of inflation rate of interest --- --- --- --- A high…
Answer this question and get it marked →Which combination of policies would be most likely to bring a country out of recession? A expansionary fiscal and monetary policy as well as supply-side policies B expansionary…
Answer this question and get it marked →The inflation rate in a country increased. Which effect would this most likely have on the country’s balance of payments? A an improvement in the current account balance B an…
Answer this question and get it marked →A government uses monetary policy and fiscal policy to solve a problem of deflation. Which policy combination is likely to be the most successful? monetary policy fiscal policy…
Answer this question and get it marked →The table shows indicators for the macroeconomies of two South American countries over one year. During this year, both governments attempted to reduce unemployment by expanding…
Answer this question and get it marked →A measure encourages consumers to change spending on imports to spending on domestically produced goods. What does this describe? A an expenditure-reducing policy B an…
Answer this question and get it marked →The macroeconomic objective of a government is to move the current account of the balance of payments from deficit to surplus. To achieve this, it devalues the currency. Under…
Answer this question and get it marked →A multinational company (MNC) buys a manufacturing firm in a developing country that produces goods for the developing country’s domestic consumers. The MNC then exports machinery…
Answer this question and get it marked →The table gives information about the population of three countries in a given year. birth rate per 1000 death rate per 1000 infant mortality rate per 1000 % of population under…
Answer this question and get it marked →During a certain period, a country with a constant population expands its output per head. It also experiences a significant increase in river and atmospheric pollution. In the…
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