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G10 Economics SA 2 Paper 1 22/23
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A high-income economy received an increase in income. What happened to absolute and relative poverty?
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What might be the reason for import tariffs?
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What is most likely to happen if Qatar builds a factory in China that becomes profitable?
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A country imposes tariffs and quotas on imported goods. What will citizens of that country experience?
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When does free trade occur?
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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?
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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?
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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?
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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?
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What is an immediate effect for a country of a fall in its foreign exchange rate?
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What is a reason for trade protection?
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Which method of protection always reduces the supply of an imported good to zero?
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What is a disadvantage of increasing international specialisation?
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What is most likely to discourage international specialisation and trade for an economy?
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Which factor in the world’s low-income countries limits their economic development?
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In 2016, Romania had an increase in its real gross domestic product of 4.8%. What must this mean about the Romanian economy?
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Why would standards of living fall when there is a recession?
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Gross Domestic Product (GDP) is a better measure of comparative living standards when it is adjusted for the effects of _______
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What causes the changes of interest rate?
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What is most likely to be the responsibility of a central government?
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What are two aims that a government normally pursues when managing the performance of the whole economy?
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