AS & A Level Economics (9708) — October–November 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 production possibility curve for a country is shown. [Diagram: a production possibility curve. The vertical axis is labelled 'manufactured goods' and the horizontal axis is…
Answer this question and get it marked →In a clothing business, after specialisation, real output per worker increased in the first six months but then output per worker began to fall. What might be the most likely…
Answer this question and get it marked →A wine producer and bottler wanted to expand its production significantly. To finance the expansion it offered investors discounts on restaurant meals if they bought 2000 shares…
Answer this question and get it marked →Which statement is positive? A All taxes should be proportional to income. B A progressive tax is a fair tax. C Greater equality of income is desirable. D Income inequality is…
Answer this question and get it marked →The diagram shows the change in a country’s production possibility curve from PQ to PR. [Diagram: the vertical axis is labelled 'public goods' and the horizontal axis is labelled…
Answer this question and get it marked →The graph shows the demand and supply curves for an industry. [Diagram: the vertical axis is labelled 'price' and the horizontal axis is labelled 'quantity', origin O. A…
Answer this question and get it marked →A firm produces a good using a very labour-intensive process. There is an increase in the price of the good. Under which conditions will the supply of the firm’s good be most…
Answer this question and get it marked →What is most likely to cause the demand curve of an inferior good to shift to the right? A a rise in consumers’ incomes B a rise in income tax C a rise in sales tax D a rise in…
Answer this question and get it marked →The diagram shows four supply curves. Which curve has a price elasticity of supply of 1 for all levels of quantity supplied? [Diagram: the vertical axis is labelled 'price' and…
Answer this question and get it marked →The diagram shows a shift of the supply curve in a market from S₁ to S₂. [Diagram: the vertical axis is labelled 'price $' and the horizontal axis is labelled 'quantity', origin…
Answer this question and get it marked →Good X has a substitute, good Y, and a complement, good Z. The price of good Y decreases and the price of good Z increases. Why might the equilibrium price of good X remain…
Answer this question and get it marked →In the diagram, S₁ and S₂ are the supply curves for an agricultural product in years 1 and 2 respectively. D is the demand curve in years 1 and 2. In year 1, the government…
Answer this question and get it marked →Inequality in an economy can be categorised as either income inequality or wealth inequality. What is most likely to cause greater wealth inequality than income inequality? A an…
Answer this question and get it marked →A product with infinite elasticity of supply has sales of 1000 units a week at a price of $1 per unit. Price elasticity of demand is 1.5 over the relevant range. The government…
Answer this question and get it marked →The table shows the values of Consumer Prices Index (CPI) and a worker’s salary in 2022 and 2023. CPI 2022 100 --- --- CPI 2023 110 worker’s salary 2022 $20 000 worker’s salary…
Answer this question and get it marked →An economy experiences rising unemployment due to incomes falling as a result of a virus pandemic. How would this unemployment be classified? A cyclical B frictional C seasonal D…
Answer this question and get it marked →What is likely to move an economy’s aggregate demand curve to the right? A a fall in income equality B a fall in incomes abroad C a fall in the exchange rate D a fall in the…
Answer this question and get it marked →Which items have to be added to and subtracted from Gross Domestic Product at market prices to calculate the value of Gross Domestic Product at basic prices? A capital consumption…
Answer this question and get it marked →In an economy with an interest rate of 4% per annum, the rate of inflation falls from 5% to 3% per annum. What will be a benefit of this fall? A Menu costs will fall to zero. B…
Answer this question and get it marked →What is an example of a macroeconomic policy? A encourage the consumption of merit goods B reduce pollution in the steel industry C maintain general price stability D reduce…
Answer this question and get it marked →Which supply-side policy is likely to lower real output before raising it? A increased spending on early years education B increased spending on infrastructure C reduced import…
Answer this question and get it marked →An economy is in equilibrium at point E on the diagram. The government reduces its expenditure on defence. Which point on the diagram shows the new equilibrium? [Diagram: the…
Answer this question and get it marked →The number of people employed in a country and the level of unemployment both decrease. What could explain this? A net inward immigration B an increase in the level of…
Answer this question and get it marked →Which circumstances would most help a firm to gain from a depreciation of the exchange rate? A It sells mainly abroad and relies on domestic suppliers for inputs. B It sells…
Answer this question and get it marked →A country has a floating exchange rate. Its current account on the balance of payments moves from a surplus to a deficit. Which rate is likely to increase in the short run as a…
Answer this question and get it marked →Which policy is most likely to reduce a balance of payments deficit without causing inflation? A decreased import quotas B depreciation of currency C higher interest rates D…
Answer this question and get it marked →The table shows the average price of exports and imports. Which combination of changes in export prices and import prices could result in a country’s terms of trade increasing…
Answer this question and get it marked →What is not an example of protectionism? A the European Union (EU) requiring goods imported into member states to meet safety standards B the Pakistan government increasing the…
Answer this question and get it marked →Turkey imported $220 million worth of goods and services. Turkey exported $12 million worth of goods and services during the same period. Its net income was −$15 million. What is…
Answer this question and get it marked →The table shows the exchange rate for national currencies per US dollar. Which currency has the smallest percentage appreciation against the US dollar between 2019 and 2020? 2019…
Answer this question and get it marked →← October–November 2024 Paper 13 · October–November 2024 Paper 11 →