Economics > Edexcel Question Paper > Pearson Edexcel Level 3 GCE Economics B Advanced PAPER 2: Competing in the global economy 9EB0/02 (All)

Pearson Edexcel Level 3 GCE Economics B Advanced PAPER 2: Competing in the global economy 9EB0/02

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Pearson Edexcel Level 3 GCE Economics B Advanced PAPER 2: Competing in the global economy 9EB0/02Answer ALL questions. SECTION A Read the following extracts (A to D) before answering Question 1. Wr ... ite your answers in the spaces provided. Extract A Health and the macroeconomy In 2017, the total Gross Domestic Product (GDP) of the United Kingdom (UK) was £2.12tn with a population of 66 million. Since then there has been an increase in homelessness, rough sleeping and in the number of food banks. Thousands of poor families now live in accommodation far away from their jobs and from the schools their children attend. Close to 40% of children were predicted to be living in poverty in 2021. Life expectancy has also fallen among the lowest income groups. According to human resource managers, many employers fail to see the link between employee wellbeing and productivity. Political parties seem indifferent to inequality, which has left large numbers of low income people experiencing poor living standards. This is not just true for the UK but for almost all the countries in the Organisation for Economic Co-operation and Development (OECD), albeit to different degrees. Fiscal policies in some countries have helped to reduce poverty and decrease inequality, while in others poverty has increased and so has inequality. (Source: adapted from https://www.ineteconomics.org/research/research-papers/ lessons-for-the-age-of-consequences-covid-19-and-the-macroeconomy and https://www.ohchr.org/EN/Issues/Poverty/Pages/CallforinputUK.aspx) Extract B UK the ‘poorest’ country in northwest Europe in 2021 The UK has the lowest level of real GDP per capita of all countries in northwest Europe. House of Commons library data, published in June 2021, puts the UK behind 13 neighbouring European countries, including Ireland, Norway, Sweden, Finland, Denmark, Belgium, the Netherlands, Iceland, Switzerland, Luxembourg, Austria, France and Germany. According to the research, which uses data from the International Monetary Fund (IMF), these 13 countries have a higher GDP per capita than the UK and have had for the past 21 years. The data puts the UK’s GDP per capita at £31 038 per person in 2021, placing it at the bottom, behind France on £32 622 per head, and Finland which has a rate of £34 187. The UK also scores low on investment. According to the World Bank, in 2020, investment in Denmark was 23% of GDP whereas in the UK it was 17% of GDP. GDP growth was also higher in Denmark from 2016 to 2019 than in the UK. Low investment and productivity mean that income growth in the UK is likely to remain relatively low [Show More]

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