1 mark
Q1(a) Pick the label that fits a rise in real GDP (actual growth / negative gap / positive gap / potential growth).
Edexcel · 9EC0 / 8EC0 / WEC11–14
All 20 questions from the Edexcel AS Level Paper 2, June 2024 Economics paper (9EC0 / 8EC0 / WEC11–14), worth 100 marks in total. The main topics tested are Investment (3), Public sector finances (3), Economic growth (2), Consumption (2).
Each question is summarised in our own words with its mark tariff, command word and specification point, and links through to the official paper.
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Q1(a) Pick the label that fits a rise in real GDP (actual growth / negative gap / positive gap / potential growth).
Q1(b) Set out one drawback of relying on GDP figures when ranking living standards across richer and poorer nations.
Q2(a) State what marginal propensity to consume means (2-mark defined term).
Q2(b) Give one influence that might push household spending in the UK higher, and explain how it works.
Q2(c) Given a UK marginal propensity to consume of 0.8, identify the value of the multiplier. (0.2 / 0.8 / 1.3 / 5.0)
Q3(a) From the UK long-term migration chart spanning September 2013 to September 2019, choose the conclusion the data supports.
Q3(b) Drawing on the migration chart, set out one way UK employment is likely to be affected by migrant inflows.
Q4(a) State the economic meaning of investment (2-mark defined term).
Q4(b) On an AD/SRAS diagram, mark how weaker business investment shifts equilibrium real output together with prices.
Q4(c) Select the likely trigger for falling UK business investment (weaker expectations / lighter regulation / stronger export demand / faster growth).
Q5(a) State what is meant by a budget deficit (2-mark defined term).
Q5(b) Using a table of the UK budget deficit (£83.6bn in 2016 to £38.7bn in 2019), calculate the percentage decrease between March 2016 and March 2019.
Q5(c) Identify the change most likely to shrink a government's budget deficit.
Q6(a) Using Figure 1, which plots UK CPI inflation against nominal wage growth from 2008 to 2019, explain what an inflation rate measures.
Q6(b) Assess how rising real wages would affect the UK economy, supporting your answer with an AD/AS diagram.
Q6(c) Using the material supplied, explain two features that mark out a recession.
Q6(d) Explain why sterling's depreciation, described in Extract A, tends to push inflation upwards.
Q6(e) Discuss what, besides real wage movements, might have shaped the Monetary Policy Committee's decision to move the base rate.
Q6(f) Evaluate the case that boosting demand through policy creates trade-offs among macroeconomic objectives.
Q6(g) Evaluate how far the Monetary Policy Committee delivered the UK's macroeconomic objectives over 2008 to 2019.
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