A Level Paper 3, June 2023

Q1(a) Distinguish positive from normative statements, illustrating each with an example taken from Extract A on Autumn 2022 UK fiscal policy.

Q1(b) Drawing on 2002–2022 UK gas price and CPI data, examine two explanations for why British inflation climbed.

Q1(c) Discuss what dearer gas would mean for a gas-intensive producer, supported by a cost and revenue diagram.

Q1(d) Evaluate the range of microeconomic and macroeconomic measures available for narrowing inequality across the UK.

Q1(e) Evaluate how cutting taxes in the UK might play out at both micro and macro level.

Q2(a) Drawing on Extract D about changing UK towns and high streets, explain one function that financial markets perform.

Q2(b) Examine two explanations for why retailers located on the high street typically stay small in scale.

Q2(c) Discuss the price and non-price tactics high street firms might deploy to lift the value of their sales.

Q2(d) Evaluate what a decline in house prices does at both micro and macro level.

Q2(e) Evaluate micro and macro consequences when the UK, or another developed economy you select, is short of labour.