AS · June 2022 · Paper 2
Which one of the following is the most likely effect of this quantitative easing?
Explain one likely impact of a decrease in the base interest rate on inflation.
Define the term ‘nominal’.
Using the above GDP data, which one of the following represents the index number for 2016, if 2017 is the base year?
Calculate the UK’s nominal GDP per capita in 2018. You are advised to show your working.
Which one of the following can be inferred from the above chart? Between 2007 and 2019,
With reference to the chart, explain the likely relationship between real incomes and subjective happiness.
Define the term ‘exchange rate’.
Which one of the following represents the percentage change in the £ sterling and US$ exchange rate?
Annotate the aggregate demand (AD) and aggregate supply (AS) diagram below to show the likely impact of an improvement in net trade on the equilibrium level of real output and the price level.
Diagram needed. Open the original question paper for the diagram
Which one of the following can be deduced from the chart?
Explain one limitation of CPI in measuring the rate of inflation.
Case study · UK investment and productivity
With reference to Figure 1, explain the term ‘investment’.
Case study · UK investment and productivity
With reference to Extract A, explain two influences on the level of UK investment.
Case study · UK investment and productivity
With reference to the fourth paragraph of Extract A, assess the limitations of using GDP to compare living standards over time.
Case study · UK investment and productivity
Explain one likely reason why ‘the UK Government expects the UK economy to perform better than Germany and Italy’ (Extract A, lines 19–20).
Case study · UK investment and productivity
With reference to the information provided, discuss the likely impact of a recession on the UK economy.
Case study · UK investment and productivity
Evaluate the fiscal policies the UK Government could use if it believes that ‘the UK economy is likely to experience another recession’ (Extract A, lines 27–28).
Case study · UK investment and productivity
Evaluate the supply-side policies the UK Government could use to increase the UK’s productivity.