AS & A Level Economics (9708) — October–November 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 →If consumers aim to maximise their utility, how will they arrange their spending? A to obtain the same total utility from each commodity B to obtain the same total utility per $…
Answer this question and get it marked →Which feature of indifference curve theory is most likely to apply in reality? A The consumer can express preferences between all possible combinations of goods. B The consumer…
Answer this question and get it marked →Diagrams 1 and 2 show different long-run average cost curves (LRAC). [Diagram 1: vertical axis labelled 'cost', horizontal axis labelled 'output', origin O. A single curve…
Answer this question and get it marked →A government makes it compulsory for motorbike riders to wear helmets. What would represent a positive externality of consumption associated with this decision? A decreased…
Answer this question and get it marked →The table shows the market shares of firms selling a very similar product in a country between 2018 and 2020. firm 2018 2020 --- --- --- Norton 28.4 27.4 Souton 18.9 17.6 Eastern…
Answer this question and get it marked →The diagram shows a profit maximising firm in equilibrium. [Diagram: vertical axis labelled '$', horizontal axis labelled 'quantity', origin O. A downward-sloping straight line…
Answer this question and get it marked →A bus company has a monopoly and specialises in long-distance travel. It initially sells its tickets to customers one month in advance of the journey. As the departure date…
Answer this question and get it marked →The diagram shows the marginal private benefit (MPB), the marginal private cost (MPC) and the marginal social cost (MSC) for firms in an industry. The equilibrium price is point…
Answer this question and get it marked →Firm X is considering whether to co-operate with its rival so that their joint profit is $4000 a month ($2000 each). It calculated that, if it did not co-operate, its own profit…
Answer this question and get it marked →A smartphone manufacturing company takes over an electronic chip design company. This is an example of which type of growth? A horizontal B lateral C vertical backwards D vertical…
Answer this question and get it marked →What is not a valid comment economists may make regarding the need to subsidise a green energy market that uses solar and wind power? A It is cheaper to use the plentiful supply…
Answer this question and get it marked →In which situation is the introduction of a minimum wage most likely to raise employment opportunities as well as wages? A Firms face intense competition both at home and abroad.…
Answer this question and get it marked →The diagram shows a firm’s initial marginal revenue product of labour curve (MRP₁). [Diagram: vertical axis labelled 'marginal revenue product of labour', horizontal axis labelled…
Answer this question and get it marked →A firm operates in a perfectly competitive labour market. The table shows the marginal revenue product (MRP) and marginal cost of labour (MCL) for each additional worker employed…
Answer this question and get it marked →Countries in South East Asia have some of the highest income inequality in the world. Which policy could be adopted by governments in South East Asia to reduce income inequality…
Answer this question and get it marked →When buying a car, Salma agrees to pay half of the cost now and the other half in six months time. Which function of money does this illustrate? A divisibility B durability C…
Answer this question and get it marked →When is the natural rate of unemployment most likely to fall? A when there is a decline in the education levels of workers B when there is an increase in income tax rates C when…
Answer this question and get it marked →A country has increasing productivity and falling unemployment. What can be concluded from this information? A Economic efficiency has increased. B Interest rates have increased.…
Answer this question and get it marked →The diagram shows full employment, national income, and expenditure (AMD). The economy is in equilibrium at J. [Diagram: vertical axis labelled AMD, horizontal axis labelled…
Answer this question and get it marked →A country experiences an increase in unemployment due to deficiency of aggregate demand. What will be the effect of this on tax revenue and government expenditure, assuming that…
Answer this question and get it marked →A government is successful in raising the rate of economic growth. As a result, which other macro-economic aim would it most likely have achieved in the short run? A balance of…
Answer this question and get it marked →Which argument for lowering income tax rates is always valid? A It boosts economic activity. B It promotes the incentive to work. C It reduces the budget deficit. D It reduces the…
Answer this question and get it marked →The table shows the percentage of labour force unemployed and the rate of inflation in a country over a five-year period. year unemployment % inflation % --- --- --- 1 3.5 4.0 2…
Answer this question and get it marked →What indicates that a more equal distribution of income has been achieved? A a faster rate of economic growth B a higher Human Development Index C a lower Gini coefficient D a…
Answer this question and get it marked →In 2018, the United States (US) government introduced tariffs on a wide range of imports from China. Which type of policy was the US government adopting? A expenditure-reducing B…
Answer this question and get it marked →A US company receives a US$20 million dividend from shares that it owns in a Brazilian company. How would this dividend be shown in the balance of payments of the United States? A…
Answer this question and get it marked →An increase or decrease in exchange rates can take place in both a floating and a fixed exchange rate system but different terminology is used for each system. What is the correct…
Answer this question and get it marked →Company X is a multinational company that produces batteries for electric cars. It decides to invest in a new factory in country N. Under which conditions is this investment most…
Answer this question and get it marked →The diagram shows two Lorenz curves. [Diagram: a square with the vertical axis labelled 'percentage of income' (0 to 100) and the horizontal axis labelled 'percentage of…
Answer this question and get it marked →What is a likely result of globalisation? A Absolute advantage replaces comparative advantage as the basis for trade. B Firms’ supply chains are shortened. C Trade is less likely…
Answer this question and get it marked →← October–November 2024 Paper 33 · October–November 2024 Paper 31 →