The National and Global Economy

Total real UK GDP in 2016 was £200 000 million. With reference to the chart above, calculate the total real UK GDP for 2017. You are advised to show your working.

Explain the term ‘real gross domestic product’.

With reference to the chart on page 2, which one of the following is correct over the period shown?

If the value of the multiplier is 1.8, which one of the following will be the total increase in GDP from the redevelopment, assuming other things are equal?

Using the example above, explain how the multiplier process leads to an increase in aggregate demand.

Explain the role of the IMF in providing financial assistance to countries such as Argentina.

Which one of the following is most likely to happen to Argentina’s currency value as a result of capital flight, assuming it is operating with a floating exchange rate system?

Calculate the percentage change in the number of UK unemployed persons between April and July 2018. You are advised to show your working.

Explain one likely reason for the increase in the number of people unemployed in the UK over the time period shown.

Which one of the following types of unemployment is most likely to be caused by a technological change in an industry?

Draw an aggregate demand and aggregate supply diagram to show the likely impact of this new bridge on the price level and real output in the region.

Diagram needed. Open the original question paper for the diagram ↗

Which one of the following would be most likely to solve a negative output gap problem in a domestic economy? An increase in

Case study · Trade and Development Issues in Africa

With reference to Figure 1 and Extract A, explain the likely impact of a Fairtrade scheme on agricultural communities.

Case study · Trade and Development Issues in Africa

Examine two ways, apart from Fairtrade schemes, in which cocoa farmers could boost their incomes despite the falling price of cocoa.

Case study · Trade and Development Issues in Africa

Discuss the problems for the Ivory Coast of dependency on cocoa for a large proportion of their exports. Refer to Figure 2 in your answer.

Case study · Trade and Development Issues in Africa

Nigeria is considering joining the African Continental Free Trade Agreement. Assess policies the Nigerian government could use in response to the concerns of the country’s ‘manufacturers and trade unions’ (Extract B paragraph 3) if they join this trading bloc.

Case study · Trade and Development Issues in Africa

Discuss the likely benefits of increased economic integration for sub-Saharan African countries.

Evaluate the likely impact of cutting tax rates as a policy to increase economic growth.

Evaluate possible economic causes of income and wealth inequalities within a country such as Brazil.