AS & A Level Economics (9708) — October–November 2024, Paper 11
30 questions · every question answerable online with instant point-by-point AI marking against the official mark scheme.
Start with Question 1 →Which statement is a normative statement? A The annual rate of inflation in Malaysia increased from 2.8% in May 2022 to 3.4%. B The annual rate of inflation was 3.4% in Malaysia,…
Answer this question and get it marked →A firm operating in country S moved its existing capital equipment to a larger factory in country T. It also installed more of the same equipment and increased the size of its…
Answer this question and get it marked →Which statement is not correct? A Addictive drugs are regarded as demerit goods because users are unaware of the full damage they do. B Air is regarded as a free good because its…
Answer this question and get it marked →The diagrams show production possibility curves. Which diagram shows constant opportunity costs? Each diagram plots consumer goods (vertical axis) against capital goods…
Answer this question and get it marked →Farmers using traditional methods lack access to finance and often employ family members on a part-time basis. If working practices in agriculture could be improved, how would…
Answer this question and get it marked →In a particular year, 12 000 units of a good are sold at $1 per unit. In a later year, 14 000 units are sold at $1.20 per unit. If consumer tastes have remained constant, what…
Answer this question and get it marked →What is most likely to cause an increase in the consumer surplus in the market for a normal good? A an increase in consumer incomes B an increase in the number of substitute goods…
Answer this question and get it marked →The table shows Lee's and Yim's price elasticity of demand for restaurant meals and cinema tickets. Lee Yim --- --- --- restaurant meals −1.2 −0.8 cinema tickets −0.7 −1.3 There…
Answer this question and get it marked →What is not held constant when aggregating individual firms' supply curves to give the short-run market supply curve? A the number of firms in the industry B the price of the…
Answer this question and get it marked →Which elasticity would a shortage of skilled workers affect? A cross elasticity of demand B income elasticity of demand C price elasticity of demand D price elasticity of supply
Answer this question and get it marked →D₁D₁ shows an individual's initial demand curve for public transport. The diagram has the price of public transport on the vertical axis and the quantity of public transport on…
Answer this question and get it marked →Which government action would be identified as the direct provision of goods and services? A increasing road maintenance because of poor weather conditions B making payments to…
Answer this question and get it marked →A specific tax is imposed on a product for which the elasticity of supply is zero. Which statement is correct? A The burden of this tax will fall entirely on consumers. B The…
Answer this question and get it marked →A government wishes to intervene in a free market to allocate healthcare at the socially optimal level. Which combination correctly identifies the reason for government…
Answer this question and get it marked →The table shows the Consumer Prices Index (CPI) for a country. year CPI --- --- 2008 100 2009 104 2010 102 2011 105 2012 108 2013 111 Which statement about the period 2008 to 2013…
Answer this question and get it marked →What is most likely to cause the price level to rise? An increase in A productivity of labour. B raw material prices. C income taxes. D subsidies paid to producers.
Answer this question and get it marked →What is most likely to increase a country's circular flow of income? A Its budget deficit increases. B Its imports increase. C Its interest rates increase. D Its exchange rate…
Answer this question and get it marked →A country with a constant population experiences a 5% increase in its nominal GDP during a year. In which situation will average living standards be most likely to have increased…
Answer this question and get it marked →Which combination correctly identifies the necessary information to construct an accurately labelled graph of a normal short-run aggregate supply curve (SRAS)? gradient of the…
Answer this question and get it marked →A government makes two changes to income tax. 1 The individual tax-free income allowance is increased. 2 The marginal rate of income tax is decreased. How will these changes…
Answer this question and get it marked →Which supply-side policy is most likely to decrease a government's budget deficit? A cutting tax rates on company profits B cutting unemployment benefits C raising spending on…
Answer this question and get it marked →Which combination of fiscal and monetary policies would certainly be expansionary? government spending taxes money supply --- --- --- --- A decrease decrease decrease B decrease…
Answer this question and get it marked →The central bank of a country raises interest rates to reduce the general price level. When is this policy likely to have the biggest impact? position of the economy on its…
Answer this question and get it marked →The table shows the trade in goods and services for an economy between 2019 and 2021. year trade in goods and services ($ millions) --- --- 2019 −1000 2020 −3000 2021 −4000 What…
Answer this question and get it marked →A government subsidises training to improve the skills of workers in the industrial sector of an economy. What is the most likely effect on the current account of the balance of…
Answer this question and get it marked →Using all their resources efficiently, country X can produce 6 million tonnes of wheat or 2 million tonnes of steel whilst country Y can produce 4 million tonnes of wheat or 1…
Answer this question and get it marked →Countries X and Y are trade partners. An increase in which economic indicator in country Y is most likely to cause a fall in the exchange rate of country X? A economic growth B…
Answer this question and get it marked →Which transaction is not recorded in the current account? A aid received from the government of another country B exports of raw materials C investments by a foreign company D…
Answer this question and get it marked →A government decides to place a tariff on imports of raw materials. Which statement about the impact of the tariff is correct? A It will increase costs of production for domestic…
Answer this question and get it marked →In which situation will a country's terms of trade improve? A Its imports rise in value less than its exports. B Its imports rise in volume less than its exports. C The price of…
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