A-level Paper 3, June 2017Microeconomics and Macroeconomics

A-level Paper 3, June 2017, Q2(a)

With reference to Extract D (line 18), explain the meaning of the term ‘output gap’. Use an aggregate demand and aggregate supply diagram in your answer.

Data responseExplain5 marks

Case study

The UK economy

Original diagram required. See the original question paper for the diagram.

Specification topics

Output gaps

Revision notes

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