Economics > AQA Question Papers > A-level ECONOMICS Paper 3 Economic Principles and Issues. 100% EXAMINABLE (All)

A-level ECONOMICS Paper 3 Economic Principles and Issues. 100% EXAMINABLE

Document Content and Description Below

Table 1 contains data for the rates of growth of nominal and real GDP and the rate of box inflation for an economy in a given year. Which one of the following combinations, A, B, C or D, shows the c... orrect relationship between the three variables? Table 1 Nominal GDP growth Real GDP growth Inflation A –2% 0% +2% B +4% +3% –1% C +5% +5% +1% D –5% –2% –3% [1 mark] 0 4 Figure 1 shows three aggregate demand (AD) curves, a short-run aggregate supply (SRAS) curve and a long-run aggregate supply (LRAS) curve. Figure 1 In Figure 1, when A aggregate demand shifts from AD1 to AD2, cyclical unemployment is likely to be eliminated. B aggregate demand shifts from AD1 to AD3, the rate of economic growth is equal to (Y3 – Y1). C the economy is producing at Y1, there is a positive output gap. D the economy is producing at Y2, there is no unemployment. [1 mark]4 *04* IB/M/Jun20/7136/3 Do not write outside the 0 5 In an economy, over the last decade, each of the top five decile groups has experienced a box fall in their share of total income. In contrast, the bottom five decile groups have experienced a substantial increase in their share of total income. It can be concluded that, over this period, the distribution of income is most likely to have become A more equal. B more equal but less equitable. C more equitable. D more equitable but less equal. [Show More]

Last updated: 2 years ago

Preview 1 out of 40 pages

Buy Now

Instant download

We Accept: