DP Economics

Test builder »

Question 23M.3.HL.TZ0.2aiv

Select a Test
Date May 2023 Marks available [Maximum mark: 2] Reference code 23M.3.HL.TZ0.2aiv
Level HL Paper 3 Time zone TZ0
Command term Calculate Question number iv Adapted from N/A
iv.
[Maximum mark: 2]
23M.3.HL.TZ0.2aiv
(iv)

A Nigerian business pays US$14 000 every year to a consultant in the United States. Using the information in Table 2, calculate the increase in the cost of this payment, in naira, between 2018 and 2020. 

[2]

Markscheme
2018: 14 000 × 306.5 = 4 291 000

2020: 14 000 × 379.5 = 5 313 000

Increase = 5 313 000 – 4 291 000

Any valid working (either 2018 or 2020 is correct) is sufficient for [1].
 
= 1 022 000
 
An answer of 1 022 000 without any valid working is sufficient for [1].
Examiners report

Generally answered accurately.

Syllabus sections