A Level Paper 3, Jun 2023

Identify the cause of a price fall with greater quantity bought.

Draw the implication of treating the environment as scarce.

Calculate cross elasticity between two nut varieties after a price rise.

Spot the flaw in money income per person as a welfare measure.

Work out saving, tax and import levels consistent with equilibrium.

Match a rate rise to the policy goal it best serves.

Name the biases behind a rush to insure after flooding.

Predict entry or exit as a competitive industry reaches long-run equilibrium.

Name the process where innovation erodes a leader's dominance.

Deduce the consumption propensity implied by a spending rise and income gain.

Decide whether output gaps are positive or negative across two years.

State which terms monetarists treat as fixed in MV=PQ.

Find the hire at which extra output per worker starts falling.

Infer marginal revenue at the point where takings peak.

Give the likely consequence when managers rather than owners decide.

Explain why unemployment returns to its natural level after policy intervention.

Identify the job of the watchdog scrutinising public finances.

Choose the action that expands the quantity of money.

Explain linked shifts across two crop markets using price signals.

Locate the output where social costs and benefits are equal.

Pick the transaction recorded as a transfer outflow abroad.

Interpret output data to see which country should specialise.

Judge whether one currency rose or fell against two others.

Define the term for regulators aligning with those they oversee.

Select the combination that raises the equilibrium wage here.

Identify a determinant of how responsive labour demand is to pay.

Read a Lorenz diagram to say how equality and Gini changed.

Predict the consequence of switching public spending towards innovation.

Choose the moral hazard example created by a central bank safety net.

Sum yearly deficits to find the rise in accumulated borrowing.

Assess from the figures whether Sri Lanka is more developed than Bangladesh and Pakistan.

Why does the global price for tea rise and fall?

Should Sri Lanka reduce public spending to bring down its debt? Justify, using the extracts.