AS Paper 2, June 2022The UK Economy – Performance and Policies
AS Paper 2, June 2022, Q4(c)
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.
Short answerAnnotate2 marks
Context
The UK exchange rate changed from £1 = $1.53 in January 2015 to £1 = $1.22 in October 2019.
Original diagram required. See the original question paper for the diagram.