Share G10 Economics SA 2 Paper 1 22/23
Save to Folder
What are two aims that a government normally pursues when managing the performance of the whole economy?
Accept any possible answers
What is most likely to be the responsibility of a central government?
Accept any possible answers
What causes the changes of interest rate?
Accept any possible answers
Gross Domestic Product (GDP) is a better measure of comparative living standards when it is adjusted for the effects of _______
Accept any possible answers
Why would standards of living fall when there is a recession?
Accept any possible answers
In 2016, Romania had an increase in its real gross domestic product of 4.8%. What must this mean about the Romanian economy?
Accept any possible answers
Which factor in the world’s low-income countries limits their economic development?
Accept any possible answers
What is most likely to discourage international specialisation and trade for an economy?
Accept any possible answers
What is a disadvantage of increasing international specialisation?
Accept any possible answers
Which method of protection always reduces the supply of an imported good to zero?
Accept any possible answers
What is a reason for trade protection?
Accept any possible answers
What is an immediate effect for a country of a fall in its foreign exchange rate?
Accept any possible answers
What is most likely to result from a reduction in the value of a country’s currency if there are no other changes in the economy?
Accept any possible answers
The governments of low-income countries often allow foreign multinational companies (MNCs) to mine minerals in their country. Which conflict between benefit and cost might this cause the low-income countries?
Accept any possible answers
In recent years, the US has experienced a deficit on its overall current account of the balance of payments. What could have led to an increase in the size of the deficit?
Accept any possible answers
In 2015, China was the world’s largest exporter of manufactured goods and a major importer of oil and minerals. China devalued the yuan (renminbi) by 2%. According to economic theory, what would have been a consequence of this devaluation?
Accept any possible answers
