Economic growth

Case study · UK living standards and supply-side policies

With reference to Figure 1, explain the term ‘rate of economic growth’.

Case study · UK living standards and supply-side policies

With reference to the first paragraph of Extract A, explain the likely relationship between real incomes and subjective happiness.

Case study · UK living standards and supply-side policies

With reference to Extract A and your own knowledge, assess the limitations of using GDP to compare living standards over time.

Case study · UK monetary policy since the Global Financial Crisis of 2008

With reference to the information provided, explain two characteristics of a recession.

Case study · UK Government spending and inequality

With reference to Figure 2, assess whether an increase in real income improves subjective happiness within the UK.

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 · The UK economy

With specific reference to Figure 3, explain why productivity is measured by ‘GDP per hour worked, nominal values at PPPs’.

Case study · The UK economy since the financial crisis

With reference to the last paragraph in Extract C, assess the impact of a fall in real incomes on subjective happiness.

Case study · UK inflation and economic growth

With reference to Figure 4, Extract B and your own knowledge, discuss the limitations of using GDP data to compare living standards between the UK and developing countries.

Case study · UK economic recovery

With reference to Figure 2 and Extract A, explain two likely reasons why the growth of the UK’s nominal GDP per capita at PPPs was slower than that of Germany after 2010.

Case study · UK incomes, inflation and monetary policy

With reference to Figure 1, explain the term ‘real income’.

Case study · UK incomes, inflation and monetary policy

Assess the likely impact of falling real incomes on UK consumers.

With reference to the data provided, explain one limitation of using GDP to compare living standards between countries.

Explain one limitation of using GDP data to compare living standards between developed and developing countries.

Calculate the value of the total forecast GDP in 2022.

Define the term ‘GDP per capita’.

Explain one reason why Purchasing Power Parities (PPPs) are used.

Define the term ‘nominal’.

Calculate the UK’s nominal GDP per capita in 2018. You are advised to show your working.

With reference to the chart, explain the likely relationship between real incomes and subjective happiness.

Calculate the percentage change in Germany’s nominal GDP from 2016 to 2017.

Explain one reason why Purchasing Power Parities are used.

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’.

Define the term ‘Gross National Income’.

Using 2014 as the base year, calculate the index number for 2016. You are advised to show your working.

Define the term ‘Gross Domestic Product’.

Calculate the UK’s GDP per capita in 2015. You are advised to show your working.

Define the term ‘real GDP’.

Define the term ‘purchasing power parities’.

With reference to the table above, which one of the following is correct?

With reference to the chart above, which one of the following is correct?

Which one of the following best describes an increase in real GDP?

Which one of the following is the most likely effect of the change in real GDP per capita between 2019 and 2020?

Which one of the following can be deduced from the chart?

Using the above GDP data, which one of the following represents the index number for 2016, if 2017 is the base year?

Which one of the following can be inferred from the above chart? Between 2007 and 2019,

From the data in the graph above, which one of the following may be deduced?

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

Which one of the following represents the ratio of Gross National Income in 2015 to Gross National Income in 2017?

Which one of the following is the most likely effect of an increase in real GDP per capita?

Which one of the following can be inferred from the chart?

The Office for National Statistics estimates that the UK population was 64 million in 2013. Using the data, what was the UK’s total GDP in 2013?