AS & A Level Economics (9708) — October–November 2024, Paper 13
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 country's production possibility curve. [Diagram: a production possibility curve. The vertical axis is 'food (units)' with 100 marked and the horizontal axis…
Answer this question and get it marked →Which type of good does not consume scarce resources? A economic good B free good C merit good D public good
Answer this question and get it marked →The factors of production earn different rewards. What identifies the correct economic term for these rewards? A capital – surpluses B enterprise – dividends C labour – interest D…
Answer this question and get it marked →What is most likely to be an advantage of the division of labour? A an increase in labour force creativity B an increase in labour productivity C an increase in workforce…
Answer this question and get it marked →A government wishes to encourage the consumption of a merit good and reduce the consumption of a demerit good. Which policy should it adopt towards each good? merit good demerit…
Answer this question and get it marked →Shoe manufacturers often use leather to make their most expensive shoes. Due to a world shortage of leather, the price of leather has risen. What will be the effect of this price…
Answer this question and get it marked →The Chinese government relaxed controls on private house ownership. Private house ownership rose sharply, replacing demand for apartments rented from the state. What would have…
Answer this question and get it marked →The supply, S, of a product is determined by the equation S = 10 + 10P, when P is the price of the product. What is the price elasticity of supply when the price changes from $1…
Answer this question and get it marked →A good has the following elasticity values. cross elasticity of demand +1.4 --- --- income elasticity of demand −0.8 Which statement is correct? A The good is a complement and…
Answer this question and get it marked →Different areas on the diagram represent different aspects of a market. [Diagram: a demand and supply graph with 'price' on the vertical axis and 'quantity' on the horizontal…
Answer this question and get it marked →Which combination of the classification of a good and market change will cause the demand curve for the good to shift to the right? classification of good market change --- ---…
Answer this question and get it marked →Which policy is most likely to solve the free rider problem caused by public goods? A an advertising campaign B a direct provision by the government C a minimum price D a tax on a…
Answer this question and get it marked →Very low interest rates in an economy encourage economic growth and cause a large increase in house prices. Which group of people is most likely to experience a fall in income and…
Answer this question and get it marked →A large-scale farming enterprise uses inputs of labour and capital equipment that are substitutes. If the government introduces a policy to subsidise capital equipment, how would…
Answer this question and get it marked →A country experienced an annual deflation rate of 2% for four successive years. Which statement is correct for the four-year period? A The price level fell by 8%. B The price…
Answer this question and get it marked →In the circular flow of income model of an economy, Y, C, I, G, X, S, T and M represent total income, consumption, investment, government expenditure, exports, saving, taxation…
Answer this question and get it marked →What leads to a rise in frictional unemployment? A an economy moving into a period of recession B replacement of workers with computers in the service sector C a change from an…
Answer this question and get it marked →The information shows data from a country's national income accounts. $ million --- --- gross domestic product at market prices 200 000 gross value added at basic prices 180 000…
Answer this question and get it marked →A government is considering building a large hospital. The impact on the country's price level will depend partly on the amount of expensive raw materials the country imports for…
Answer this question and get it marked →If interest rates are reduced, what is most likely to decrease? A borrowing by firms B consumer spending C import prices D export prices
Answer this question and get it marked →Supply-side policy often has fiscal consequences. Which statement is not correct? A Increased government spending supporting technical progress has beneficial long-term…
Answer this question and get it marked →Changes in fiscal policy can affect the distribution of income and wealth. Which combination of fiscal policy would most likely be regressive? A a fall in the lowest level of…
Answer this question and get it marked →What does it mean when a government has a budget surplus? A Government revenue exceeds expenditure. B Imports exceed exports. C The government has an expansionary fiscal policy. D…
Answer this question and get it marked →A country subsidises domestic production of manufactured goods. What is the most likely outcome? A a rise in economic growth B a rise in imports of manufactured goods C a rise in…
Answer this question and get it marked →What is not a valid explanation of why a government might allow a deficit on the balance of payments current account to continue? A The balance of payments account must always…
Answer this question and get it marked →A country currently producing at point X on its production possibility curve decides to specialise in the manufacture of cars and import trucks. It finds it can import one truck…
Answer this question and get it marked →What is most likely to cause a current account deficit? A a recession in the domestic economy B a relatively high rate of inflation C an undervalued exchange rate D high labour…
Answer this question and get it marked →Two statements describing forms of protectionism a government can use are listed. 1 There is a total ban on imports. 2 All imported goods have to be of a specified standard. Which…
Answer this question and get it marked →When is there an improvement in a country's terms of trade? A when the price of exports falls more than the price of imports B when there is no change in the price of exports but…
Answer this question and get it marked →What is likely to happen if there is a rise in the international value of a country's currency? A a fall in the foreign currency price of its exports B a fall in the volume of its…
Answer this question and get it marked →← October–November 2024 Paper 21 · October–November 2024 Paper 12 →