First exams 2022

Assuming that this catering market is in long-run equilibrium, sketch a diagram in which the profit-maximizing level of output for a firm in this market is shown.

Assuming that this catering market is in long-run equilibrium, sketch a diagram in which the profit-maximizing level of output for a firm in this market is shown.

Assuming that this catering market is in long-run equilibrium, sketch a diagram in which the profit-maximizing level of output for a firm in this market is shown.

With reference to Figure 1, explain how the price floor will impact on allocative efficiency in the market for tomatoes.

With reference to Figure 1, explain how the price floor will impact on allocative efficiency in the market for tomatoes.

With reference to Figure 1, explain how the price floor will impact on allocative efficiency in the market for tomatoes.

Calculate the indirect tax paid by airlines for the catering meals they bought in 2021 if the domestic indirect tax rate on food was 6.5$$% and their expenditure on meals was US$54 506.70.

Calculate the indirect tax paid by airlines for the catering meals they bought in 2021 if the domestic indirect tax rate on food was 6.5$$% and their expenditure on meals was US$54 506.70.

Calculate the indirect tax paid by airlines for the catering meals they bought in 2021 if the domestic indirect tax rate on food was 6.5$$% and their expenditure on meals was US$54 506.70.

The impact of a 4.5$$% rise in the price of airline tickets on the quantity of leisure travel demanded has been calculated to be $-$10.26$$%. Using the figures in Table 3, calculate the impact of the same 4.5$$% rise in the price of airline tickets on the quantity of business travel demanded.

The impact of a 4.5$$% rise in the price of airline tickets on the quantity of leisure travel demanded has been calculated to be $-$10.26$$%. Using the figures in Table 3, calculate the impact of the same 4.5$$% rise in the price of airline tickets on the quantity of business travel demanded.

The impact of a 4.5$$% rise in the price of airline tickets on the quantity of leisure travel demanded has been calculated to be $-$10.26$$%. Using the figures in Table 3, calculate the impact of the same 4.5$$% rise in the price of airline tickets on the quantity of business travel demanded.

Using information from Table 4, calculate the additional income tax Beycan would pay if the Turkish government decided to increase the marginal tax rate for incomes over TL600 001 to 55$$%, as it has been in Austria since 2016.

Using information from Table 4, calculate the additional income tax Beycan would pay if the Turkish government decided to increase the marginal tax rate for incomes over TL600 001 to 55$$%, as it has been in Austria since 2016.

Using information from Table 4, calculate the additional income tax Beycan would pay if the Turkish government decided to increase the marginal tax rate for incomes over TL600 001 to 55$$%, as it has been in Austria since 2016.

Describe the information shown in Figure 2.

Describe the information shown in Figure 2.

Describe the information shown in Figure 2.

Using Figure 2 and the information, explain two reasons that may account for Turkey’s decision to eliminate the 20 % tariff on wheat imports from Russia.

Using Figure 2 and the information, explain two reasons that may account for Turkey’s decision to eliminate the 20 % tariff on wheat imports from Russia.

Using Figure 2 and the information, explain two reasons that may account for Turkey’s decision to eliminate the 20 % tariff on wheat imports from Russia.

Using the income distribution information in Table 5, construct a fully labelled Lorenz curve diagram for Turkey in 2017.

Using the income distribution information in Table 5, construct a fully labelled Lorenz curve diagram for Turkey in 2017.

Using the income distribution information in Table 5, construct a fully labelled Lorenz curve diagram for Turkey in 2017.

Using the text/data provided and your knowledge of economics, recommend a policy that the government of Turkey could introduce to reduce income inequality.

Discuss the view that competitive markets will always achieve allocative efficiency.

Discuss the view that competitive markets will always achieve allocative efficiency.

Discuss the view that competitive markets will always achieve allocative efficiency.

Evaluate the view that the best way to reduce income inequality in a country is by using progressive taxation.

Evaluate the view that the best way to reduce income inequality in a country is by using progressive taxation.

Evaluate the view that the best way to reduce income inequality in a country is by using progressive taxation.

A government decides to impose an indirect tax on unhealthy drinks. Discuss the consequences for the stakeholders in these markets.

A government decides to impose an indirect tax on unhealthy drinks. Discuss the consequences for the stakeholders in these markets.

A government decides to impose an indirect tax on unhealthy drinks. Discuss the consequences for the stakeholders in these markets.

Discuss the view that legislation is the best way of dealing with the problem of monopoly power.

Discuss the view that legislation is the best way of dealing with the problem of monopoly power.

Discuss the view that legislation is the best way of dealing with the problem of monopoly power.

Examine why, in contrast to the monetarist/new classical model, the economy will not automatically return to the full employment level of output in the Keynesian model.

Examine why, in contrast to the monetarist/new classical model, the economy will not automatically return to the full employment level of output in the Keynesian model.

Examine why, in contrast to the monetarist/new classical model, the economy will not automatically return to the full employment level of output in the Keynesian model.

Discuss the possible consequences of economic growth on living standards, unemployment and inflation.

Discuss the possible consequences of economic growth on living standards, unemployment and inflation.

Discuss the possible consequences of economic growth on living standards, unemployment and inflation.

Explain two reasons why a government might want to subsidize a good or service.

Explain two reasons why a government might want to subsidize a good or service.

Explain two reasons why a government might want to subsidize a good or service.

Explain why some firms might choose the goal of profit maximization while others might choose to adopt satisficing behaviour.

Explain why some firms might choose the goal of profit maximization while others might choose to adopt satisficing behaviour.

Explain why some firms might choose the goal of profit maximization while others might choose to adopt satisficing behaviour.

Discuss whether price will always be lower and output will always be higher in perfect competition compared to monopoly.

Discuss whether price will always be lower and output will always be higher in perfect competition compared to monopoly.

Discuss whether price will always be lower and output will always be higher in perfect competition compared to monopoly.

Using Table 1, calculate the unemployment rate.

Using Table 1, calculate the unemployment rate.

Using Table 1, calculate the unemployment rate.

Using the graph, determine short-run values for the unemployment rate in 2016 and the inflation rate in 2018. Enter your answers in Table 2 below.

Table 2

Using the graph, determine short-run values for the unemployment rate in 2016 and the inflation rate in 2018. Enter your answers in Table 2 below.

Table 2

Using the graph, determine short-run values for the unemployment rate in 2016 and the inflation rate in 2018. Enter your answers in Table 2 below.

Table 2

The natural rate of unemployment in Country Alpha is 5 %.

On the diagram draw and label the long-run Phillips curve (LRPC).

The natural rate of unemployment in Country Alpha is 5 %.

On the diagram draw and label the long-run Phillips curve (LRPC).

The natural rate of unemployment in Country Alpha is 5 %.

On the diagram draw and label the long-run Phillips curve (LRPC).

Calculate the real growth rate in 2018 using the figures in Table 4 below.

Table 4

Calculate the real growth rate in 2018 using the figures in Table 4 below.

Table 4

Calculate the real growth rate in 2018 using the figures in Table 4 below.

Table 4

Using the diagram, calculate the opportunity cost of producing one tonne of bananas in Country A.

Using the diagram, calculate the opportunity cost of producing one tonne of bananas in Country A.

Using the diagram, calculate the opportunity cost of producing one tonne of bananas in Country A.

Using your answer to part (g)(ii), describe how the level of reserve assets in Urbania changed by the end of 2017.

Using your answer to part (g)(ii), describe how the level of reserve assets in Urbania changed by the end of 2017.

Using your answer to part (g)(ii), describe how the level of reserve assets in Urbania changed by the end of 2017.

Explain how a depreciation of the Urbanian dollar ($) might result in a J-curve effect.

Explain how a depreciation of the Urbanian dollar ($) might result in a J-curve effect.

Explain how a depreciation of the Urbanian dollar ($) might result in a J-curve effect.

To what extent is the use of national income statistics an effective way of comparing the standard of living between countries?

To what extent is the use of national income statistics an effective way of comparing the standard of living between countries?

To what extent is the use of national income statistics an effective way of comparing the standard of living between countries?

Discuss the effectiveness of supply-side policies in reducing unemployment.

Discuss the effectiveness of supply-side policies in reducing unemployment.

Discuss the effectiveness of supply-side policies in reducing unemployment.

Define the term depreciation indicated in bold in the text (paragraph [6]).

Define the term depreciation indicated in bold in the text (paragraph [6]).

Define the term depreciation indicated in bold in the text (paragraph [6]).

Using a demand and supply diagram, explain the effect of government subsidies on the US corn market (paragraph [5]).

Using a demand and supply diagram, explain the effect of government subsidies on the US corn market (paragraph [5]).

Using a demand and supply diagram, explain the effect of government subsidies on the US corn market (paragraph [5]).

Define the term monetary policy indicated in bold in the text (paragraph [5]).

Define the term monetary policy indicated in bold in the text (paragraph [5]).

Define the term monetary policy indicated in bold in the text (paragraph [5]).

Using an AD/AS diagram, explain why the “decrease in the prices of imports, especially oil” might reduce inflationary pressure (paragraph [5]).

Using an AD/AS diagram, explain why the “decrease in the prices of imports, especially oil” might reduce inflationary pressure (paragraph [5]).

Using an AD/AS diagram, explain why the “decrease in the prices of imports, especially oil” might reduce inflationary pressure (paragraph [5]).

Using information from the text/data and your knowledge of economics, evaluate the challenges to economic growth and economic development faced by Burundi.

Using information from the text/data and your knowledge of economics, evaluate the challenges to economic growth and economic development faced by Burundi.

Using information from the text/data and your knowledge of economics, evaluate the challenges to economic growth and economic development faced by Burundi.

Define the term comparative advantage indicated in bold in the text (paragraph [5]).

Define the term comparative advantage indicated in bold in the text (paragraph [5]).

Define the term comparative advantage indicated in bold in the text (paragraph [5]).

Using information from the text/data and your knowledge of economics, evaluate the likely impact on South Sudan of its membership of the EAC common market. 

Using information from the text/data and your knowledge of economics, evaluate the likely impact on South Sudan of its membership of the EAC common market. 

Using information from the text/data and your knowledge of economics, evaluate the likely impact on South Sudan of its membership of the EAC common market. 

Define the term poverty trap indicated in bold in the text (paragraph [2]).

Define the term poverty trap indicated in bold in the text (paragraph [2]).

Define the term poverty trap indicated in bold in the text (paragraph [2]).

Define the term total revenue indicated in bold in the text (paragraph [6]).

Define the term total revenue indicated in bold in the text (paragraph [6]).

Define the term total revenue indicated in bold in the text (paragraph [6]).

Using an externalities diagram, explain how the widespread use of solar panels will decrease the negative externalities of consumption caused by the use of kerosene lamps (paragraph [5]).

Using an externalities diagram, explain how the widespread use of solar panels will decrease the negative externalities of consumption caused by the use of kerosene lamps (paragraph [5]).

Using an externalities diagram, explain how the widespread use of solar panels will decrease the negative externalities of consumption caused by the use of kerosene lamps (paragraph [5]).

Using a theory of the firm diagram, explain the output and pricing decision of M-Kopa if it chooses to pursue the goal of revenue maximization (paragraph [6]).

Using a theory of the firm diagram, explain the output and pricing decision of M-Kopa if it chooses to pursue the goal of revenue maximization (paragraph [6]).

Using a theory of the firm diagram, explain the output and pricing decision of M-Kopa if it chooses to pursue the goal of revenue maximization (paragraph [6]).

Using information from the text/data and your knowledge of economics, examine the extent to which access to credit and appropriate technology can contribute to economic development in Kenya.

Using information from the text/data and your knowledge of economics, examine the extent to which access to credit and appropriate technology can contribute to economic development in Kenya.

Using information from the text/data and your knowledge of economics, examine the extent to which access to credit and appropriate technology can contribute to economic development in Kenya.

Calculate the social (community) surplus in the market for cotton in San Marcus.

Calculate the social (community) surplus in the market for cotton in San Marcus.

Calculate the social (community) surplus in the market for cotton in San Marcus.

Calculate the cost to the government of San Marcus of providing this subsidy to domestic cotton producers.

Calculate the cost to the government of San Marcus of providing this subsidy to domestic cotton producers.

Calculate the cost to the government of San Marcus of providing this subsidy to domestic cotton producers.

Calculate the change in the consumer surplus resulting from the subsidy.

Calculate the change in the consumer surplus resulting from the subsidy.

Calculate the change in the consumer surplus resulting from the subsidy.

Calculate gross domestic product (GDP) for Country X in 2015.

Calculate gross domestic product (GDP) for Country X in 2015.

Calculate gross domestic product (GDP) for Country X in 2015.

Calculate gross national income (GNI) for Country X in 2015.

Calculate gross national income (GNI) for Country X in 2015.

Calculate gross national income (GNI) for Country X in 2015.

Identify the term represented in Figure 4 by the letter M.

Identify the term represented in Figure 4 by the letter M.

Identify the term represented in Figure 4 by the letter M.

Calculate the average tax rate for an individual who earns $64 000 per year.

Calculate the average tax rate for an individual who earns $64 000 per year.

Calculate the average tax rate for an individual who earns $64 000 per year.

Examine the view that the best allocation of resources, from society’s point of view, occurs where the marginal private benefit equals the marginal private cost.

Examine the view that the best allocation of resources, from society’s point of view, occurs where the marginal private benefit equals the marginal private cost.

Examine the view that the best allocation of resources, from society’s point of view, occurs where the marginal private benefit equals the marginal private cost.

To what extent is expansionary fiscal policy the best policy to achieve a reduction in the rate of unemployment?

To what extent is expansionary fiscal policy the best policy to achieve a reduction in the rate of unemployment?

To what extent is expansionary fiscal policy the best policy to achieve a reduction in the rate of unemployment?

Discuss the view that economic growth can only be achieved at the expense of other macroeconomic objectives such as a low and stable rate of inflation and equity in the distribution of income.

Discuss the view that economic growth can only be achieved at the expense of other macroeconomic objectives such as a low and stable rate of inflation and equity in the distribution of income.

Discuss the view that economic growth can only be achieved at the expense of other macroeconomic objectives such as a low and stable rate of inflation and equity in the distribution of income.

Explain why price elasticity of demand varies along the length of a straight-line demand curve.

Explain why price elasticity of demand varies along the length of a straight-line demand curve.

Explain why price elasticity of demand varies along the length of a straight-line demand curve.

Evaluate the view that government policies to promote greater equity will always have a negative effect on efficiency.

Evaluate the view that government policies to promote greater equity will always have a negative effect on efficiency.

Evaluate the view that government policies to promote greater equity will always have a negative effect on efficiency.

Discuss the view that the provision of subsidies by the government on goods such as agricultural products will always be beneficial to stakeholders.

Discuss the view that the provision of subsidies by the government on goods such as agricultural products will always be beneficial to stakeholders.

Discuss the view that the provision of subsidies by the government on goods such as agricultural products will always be beneficial to stakeholders.

Using an appropriate externalities diagram, explain why a government might decide to impose a price floor on a demerit good.

Using an appropriate externalities diagram, explain why a government might decide to impose a price floor on a demerit good.

Using an appropriate externalities diagram, explain why a government might decide to impose a price floor on a demerit good.

Discuss the view that there will always be a trade-off between the unemployment rate and the inflation rate.

Discuss the view that there will always be a trade-off between the unemployment rate and the inflation rate.

Discuss the view that there will always be a trade-off between the unemployment rate and the inflation rate.

Define the term excess demand indicated in bold in the text (paragraph [3]).

Define the term excess demand indicated in bold in the text (paragraph [3]).

Define the term excess demand indicated in bold in the text (paragraph [3]).

Using a supply and demand diagram and data from the text, explain how a “disequilibrium in the domestic US tinplate steel market” would occur if there were no imports (paragraph [3]).

Using a supply and demand diagram and data from the text, explain how a “disequilibrium in the domestic US tinplate steel market” would occur if there were no imports (paragraph [3]).

Using a supply and demand diagram and data from the text, explain how a “disequilibrium in the domestic US tinplate steel market” would occur if there were no imports (paragraph [3]).

Using information from the text/data and your knowledge of economics, discuss possible economic impacts of the tariff on tinplate steel.

Using information from the text/data and your knowledge of economics, discuss possible economic impacts of the tariff on tinplate steel.

Using information from the text/data and your knowledge of economics, discuss possible economic impacts of the tariff on tinplate steel.

Define the term concessional long-term loans indicated in bold in the text (paragraph [2]).

Define the term concessional long-term loans indicated in bold in the text (paragraph [2]).

Define the term concessional long-term loans indicated in bold in the text (paragraph [2]).

Explain two possible disadvantages for Bhutan in receiving India’s tied aid (paragraph [3]).

Explain two possible disadvantages for Bhutan in receiving India’s tied aid (paragraph [3]).

Explain two possible disadvantages for Bhutan in receiving India’s tied aid (paragraph [3]).

Using information from the text/data and your knowledge of economics, evaluate the government policies being used to promote economic development in Bhutan.

Using information from the text/data and your knowledge of economics, evaluate the government policies being used to promote economic development in Bhutan.

Using information from the text/data and your knowledge of economics, evaluate the government policies being used to promote economic development in Bhutan.

Define the term foreign direct investment (FDI) indicated in bold in the text (paragraph [4]).

Define the term foreign direct investment (FDI) indicated in bold in the text (paragraph [4]).

Define the term foreign direct investment (FDI) indicated in bold in the text (paragraph [4]).

Using a poverty cycle diagram, explain how increased foreign direct investment might break the cycle (paragraph [4]).

Using a poverty cycle diagram, explain how increased foreign direct investment might break the cycle (paragraph [4]).

Using a poverty cycle diagram, explain how increased foreign direct investment might break the cycle (paragraph [4]).

Using a demand and supply diagram, explain how the “imposition of the preliminary tariff” may have affected the market for new homes built in Canada (paragraph [4]).

Using a demand and supply diagram, explain how the “imposition of the preliminary tariff” may have affected the market for new homes built in Canada (paragraph [4]).

Using a demand and supply diagram, explain how the “imposition of the preliminary tariff” may have affected the market for new homes built in Canada (paragraph [4]).

Using an exchange rate diagram, explain how the central bank might depreciate the value of the rupee (paragraph [3]).

Using an exchange rate diagram, explain how the central bank might depreciate the value of the rupee (paragraph [3]).

Using an exchange rate diagram, explain how the central bank might depreciate the value of the rupee (paragraph [3]).

Using information from the text/data and your knowledge of economics, discuss the effects of the increasing current account deficit on Pakistan’s economy.

Using information from the text/data and your knowledge of economics, discuss the effects of the increasing current account deficit on Pakistan’s economy.

Using information from the text/data and your knowledge of economics, discuss the effects of the increasing current account deficit on Pakistan’s economy.

Define the term interest rates indicated in bold in the text (paragraph [5]).

Define the term interest rates indicated in bold in the text (paragraph [5]).

Define the term interest rates indicated in bold in the text (paragraph [5]).

Describe the nature of foreign direct investment (paragraph [6]).

Describe the nature of foreign direct investment (paragraph [6]).

Describe the nature of foreign direct investment (paragraph [6]).

Using information from the text, explain two reasons why Chinese multinational corporations (MNCs) are investing in Bolivia.

Using information from the text, explain two reasons why Chinese multinational corporations (MNCs) are investing in Bolivia.

Using information from the text, explain two reasons why Chinese multinational corporations (MNCs) are investing in Bolivia.

Using an externalities diagram, explain how the Chinese infrastructure projects have caused negative externalities (paragraph [6]).

Using an externalities diagram, explain how the Chinese infrastructure projects have caused negative externalities (paragraph [6]).

Using an externalities diagram, explain how the Chinese infrastructure projects have caused negative externalities (paragraph [6]).

Using information from the text/data and your knowledge of economics, discuss the extent to which continued economic growth may lead to economic development in Kenya.

Using information from the text/data and your knowledge of economics, discuss the extent to which continued economic growth may lead to economic development in Kenya.

Using information from the text/data and your knowledge of economics, discuss the extent to which continued economic growth may lead to economic development in Kenya.

Sketch and label a diagram to illustrate comparative advantage between Country X and Country Y on Figure 4.

Figure 4

Sketch and label a diagram to illustrate comparative advantage between Country X and Country Y on Figure 4.

Figure 4

Sketch and label a diagram to illustrate comparative advantage between Country X and Country Y on Figure 4.

Figure 4

Calculate the change in expenditure on imported oranges as a result of the increase in demand.

Calculate the change in expenditure on imported oranges as a result of the increase in demand.

Calculate the change in expenditure on imported oranges as a result of the increase in demand.

Calculate the change in social (community) surplus as a result of the increase in demand for oranges.

Calculate the change in social (community) surplus as a result of the increase in demand for oranges.

Calculate the change in social (community) surplus as a result of the increase in demand for oranges.

Explain two possible economic consequences for the eurozone if the euro appreciates.

Explain two possible economic consequences for the eurozone if the euro appreciates.

Explain two possible economic consequences for the eurozone if the euro appreciates.

Explain two reasons why a government might prefer a floating exchange rate system for its currency.

Explain two reasons why a government might prefer a floating exchange rate system for its currency.

Explain two reasons why a government might prefer a floating exchange rate system for its currency.

Calculate the resulting unemployment among the low-wage workers.

Calculate the resulting unemployment among the low-wage workers.

Calculate the resulting unemployment among the low-wage workers.

Using an AD/AS diagram to support your answer, explain the mechanism through which monetary policy can help an economy reduce the level of unemployment.

Using an AD/AS diagram to support your answer, explain the mechanism through which monetary policy can help an economy reduce the level of unemployment.

Using an AD/AS diagram to support your answer, explain the mechanism through which monetary policy can help an economy reduce the level of unemployment.

Using this information, calculate the value of the Keynesian multiplier.

Using this information, calculate the value of the Keynesian multiplier.

Using this information, calculate the value of the Keynesian multiplier.

Discuss the view that economic growth always leads to a rise in living standards.

Discuss the view that economic growth always leads to a rise in living standards.

Discuss the view that economic growth always leads to a rise in living standards.

Discuss the view that barriers to entry in a monopoly will always lead to abnormal profits in the long run.

Discuss the view that barriers to entry in a monopoly will always lead to abnormal profits in the long run.

Discuss the view that barriers to entry in a monopoly will always lead to abnormal profits in the long run.

Discuss whether the real gross national income (GNI) per capita of a country is a good indicator of its standard of living.

Discuss whether the real gross national income (GNI) per capita of a country is a good indicator of its standard of living.

Discuss whether the real gross national income (GNI) per capita of a country is a good indicator of its standard of living.

Define the term sustainability indicated in bold in the text (paragraph [6]).

Define the term sustainability indicated in bold in the text (paragraph [6]).

Define the term sustainability indicated in bold in the text (paragraph [6]).

Using an international trade diagram, explain the likely impact of Japan “removing the current 30 % tariff” on the level of cheddar cheese imports. (paragraph [4]).

Using an international trade diagram, explain the likely impact of Japan “removing the current 30 % tariff” on the level of cheddar cheese imports. (paragraph [4]).

Using an international trade diagram, explain the likely impact of Japan “removing the current 30 % tariff” on the level of cheddar cheese imports. (paragraph [4]).

State two functions of the International Monetary Fund (IMF) (paragraph [1]).

State two functions of the International Monetary Fund (IMF) (paragraph [1]).

State two functions of the International Monetary Fund (IMF) (paragraph [1]).

Using an exchange rate diagram, explain what is likely to have happened to the Turkish lira when Turkish citizens “bought US$1 billion worth of foreign currency” (paragraph [5]).

Using an exchange rate diagram, explain what is likely to have happened to the Turkish lira when Turkish citizens “bought US$1 billion worth of foreign currency” (paragraph [5]).

Using an exchange rate diagram, explain what is likely to have happened to the Turkish lira when Turkish citizens “bought US$1 billion worth of foreign currency” (paragraph [5]).

Using an externalities diagram, explain why the percentage of infants receiving measles vaccinations in Nigeria indicates the existence of a market failure (Table 1).

Using an externalities diagram, explain why the percentage of infants receiving measles vaccinations in Nigeria indicates the existence of a market failure (Table 1).

Using an externalities diagram, explain why the percentage of infants receiving measles vaccinations in Nigeria indicates the existence of a market failure (Table 1).

Using information from the text/data and your knowledge of economics, compare and contrast the level of economic development in Ghana and Nigeria.

Using information from the text/data and your knowledge of economics, compare and contrast the level of economic development in Ghana and Nigeria.

Using information from the text/data and your knowledge of economics, compare and contrast the level of economic development in Ghana and Nigeria.

Define the term diversification indicated in bold in the text (paragraph [5]).

Define the term diversification indicated in bold in the text (paragraph [5]).

Define the term diversification indicated in bold in the text (paragraph [5]).

Using an externalities diagram, explain why the garment industry is a source of market failure (paragraph [8]).

Using an externalities diagram, explain why the garment industry is a source of market failure (paragraph [8]).

Using an externalities diagram, explain why the garment industry is a source of market failure (paragraph [8]).

Explain two reasons why fiscal policy may prove effective in lifting an economy out of a deep recession.

Explain two reasons why fiscal policy may prove effective in lifting an economy out of a deep recession.

Explain two reasons why fiscal policy may prove effective in lifting an economy out of a deep recession.

Using the information in Table 2 for Country B calculate nominal GNI in 2015. Enter your result in Table 2.

Using the information in Table 2 for Country B calculate nominal GNI in 2015. Enter your result in Table 2.

Using the information in Table 2 for Country B calculate nominal GNI in 2015. Enter your result in Table 2.

The data in Table 2 suggest that Country B may have attracted significant foreign direct investment (FDI).

Outline one possible disadvantage of foreign direct investment (FDI) for economically less developed countries.

The data in Table 2 suggest that Country B may have attracted significant foreign direct investment (FDI).

Outline one possible disadvantage of foreign direct investment (FDI) for economically less developed countries.

The data in Table 2 suggest that Country B may have attracted significant foreign direct investment (FDI).

Outline one possible disadvantage of foreign direct investment (FDI) for economically less developed countries.

Calculate the additional cost of paying back the loan in gamma in 2019, due to the interest and the change in the exchange rate.

Calculate the additional cost of paying back the loan in gamma in 2019, due to the interest and the change in the exchange rate.

Calculate the additional cost of paying back the loan in gamma in 2019, due to the interest and the change in the exchange rate.

Using Figure 2, calculate how many US$ are needed to buy one gamma at the new exchange rate.

Using Figure 2, calculate how many US$ are needed to buy one gamma at the new exchange rate.

Using Figure 2, calculate how many US$ are needed to buy one gamma at the new exchange rate.

State two reasons that could have caused an increase in the supply of US$.

State two reasons that could have caused an increase in the supply of US$.

State two reasons that could have caused an increase in the supply of US$.

Using information from Figure 1, calculate Firm A’s total fixed costs.

Using information from Figure 1, calculate Firm A’s total fixed costs.

Using information from Figure 1, calculate Firm A’s total fixed costs.

The market price of almonds is $11 per kilogram. Using Figure 1, identify the quantity of almonds Firm A must produce in order to maximize profits.

The market price of almonds is $11 per kilogram. Using Figure 1, identify the quantity of almonds Firm A must produce in order to maximize profits.

The market price of almonds is $11 per kilogram. Using Figure 1, identify the quantity of almonds Firm A must produce in order to maximize profits.

Using your answer to part (c)(ii), explain how the market adjustment takes place.

Using your answer to part (c)(ii), explain how the market adjustment takes place.

Using your answer to part (c)(ii), explain how the market adjustment takes place.

Using Figure 3, calculate the economic profit when Firm B is maximizing its profits.

Using Figure 3, calculate the economic profit when Firm B is maximizing its profits.

Using Figure 3, calculate the economic profit when Firm B is maximizing its profits.

The cost of the typical basket was $50 in 2017. Calculate the consumer price index (CPI) for 2017.

The cost of the typical basket was $50 in 2017. Calculate the consumer price index (CPI) for 2017.

The cost of the typical basket was $50 in 2017. Calculate the consumer price index (CPI) for 2017.

Calculate the estimated value of the multiplier used by the economist.

Calculate the estimated value of the multiplier used by the economist.

Calculate the estimated value of the multiplier used by the economist.

Using Figure 5, state two likely causes for the change in Mexico’s spending on imports of goods and services in 2009.

Using Figure 5, state two likely causes for the change in Mexico’s spending on imports of goods and services in 2009.

Using Figure 5, state two likely causes for the change in Mexico’s spending on imports of goods and services in 2009.

Using Figure 6, identify the equilibrium price when Country B engages in free trade.

Using Figure 6, identify the equilibrium price when Country B engages in free trade.

Using Figure 6, identify the equilibrium price when Country B engages in free trade.

Using Figure 7, calculate the revenue received by the government as a result of the imposition of the tariff in Country B.

Using Figure 7, calculate the revenue received by the government as a result of the imposition of the tariff in Country B.

Using Figure 7, calculate the revenue received by the government as a result of the imposition of the tariff in Country B.

Using Figure 7, calculate the welfare loss as a result of Country B imposing the tariff.

Using Figure 7, calculate the welfare loss as a result of Country B imposing the tariff.

Using Figure 7, calculate the welfare loss as a result of Country B imposing the tariff.

Discuss whether government regulation is the most effective way to deal with negative externalities of consumption.

Discuss whether government regulation is the most effective way to deal with negative externalities of consumption.

Discuss whether government regulation is the most effective way to deal with negative externalities of consumption.

Explain the impact of a price floor on market outcomes.

Explain the impact of a price floor on market outcomes.

Explain the impact of a price floor on market outcomes.

Explain how knowledge of price elasticity of demand could be used by a firm that is considering changing the price of its product.

Explain how knowledge of price elasticity of demand could be used by a firm that is considering changing the price of its product.

Explain how knowledge of price elasticity of demand could be used by a firm that is considering changing the price of its product.

Discuss how the introduction of a subsidy in a market will affect consumers, producers and the government.

Discuss how the introduction of a subsidy in a market will affect consumers, producers and the government.

Discuss how the introduction of a subsidy in a market will affect consumers, producers and the government.

Explain how a natural monopoly may arise.

Explain how a natural monopoly may arise.

Explain how a natural monopoly may arise.

Define the term budget deficit indicated in bold in the text (paragraph [2]).

Define the term budget deficit indicated in bold in the text (paragraph [2]).

Define the term budget deficit indicated in bold in the text (paragraph [2]).

Using an AD/AS diagram, explain how the peso’s weakness is “raising inflation” (paragraph [6]).

Using an AD/AS diagram, explain how the peso’s weakness is “raising inflation” (paragraph [6]).

Using an AD/AS diagram, explain how the peso’s weakness is “raising inflation” (paragraph [6]).

Using information from the text/data and your knowledge of economics, discuss the arguments for and against the trade protection measures imposed by the US on China.

Using information from the text/data and your knowledge of economics, discuss the arguments for and against the trade protection measures imposed by the US on China.

Using information from the text/data and your knowledge of economics, discuss the arguments for and against the trade protection measures imposed by the US on China.

State two functions of the International Monetary Fund (IMF) (paragraph [2]).

State two functions of the International Monetary Fund (IMF) (paragraph [2]).

State two functions of the International Monetary Fund (IMF) (paragraph [2]).

Define the term human capital indicated in bold in the text (paragraph [5]).

Define the term human capital indicated in bold in the text (paragraph [5]).

Define the term human capital indicated in bold in the text (paragraph [5]).

Using information from the text/data and your knowledge of economics, evaluate the potential impact of the IMF and the World Bank on economic development in Pakistan.

Using information from the text/data and your knowledge of economics, evaluate the potential impact of the IMF and the World Bank on economic development in Pakistan.

Using information from the text/data and your knowledge of economics, evaluate the potential impact of the IMF and the World Bank on economic development in Pakistan.

Define the term inflation indicated in bold in the text (paragraph [2]).

Define the term inflation indicated in bold in the text (paragraph [2]).

Define the term inflation indicated in bold in the text (paragraph [2]).

Using an AD/AS diagram, explain the impact on the potential output of the Philippines of the government increasing its “spending on new airports, roads and bridges” (paragraph [4]).

Using an AD/AS diagram, explain the impact on the potential output of the Philippines of the government increasing its “spending on new airports, roads and bridges” (paragraph [4]).

Using an AD/AS diagram, explain the impact on the potential output of the Philippines of the government increasing its “spending on new airports, roads and bridges” (paragraph [4]).

Using an exchange rate diagram, explain how South Korea’s current account surplus could have “helped increase the South Korean won’s value” (paragraph [2]).

Using an exchange rate diagram, explain how South Korea’s current account surplus could have “helped increase the South Korean won’s value” (paragraph [2]).

Using an exchange rate diagram, explain how South Korea’s current account surplus could have “helped increase the South Korean won’s value” (paragraph [2]).

Define the term quotas indicated in bold in the text (paragraph [2]).

Define the term quotas indicated in bold in the text (paragraph [2]).

Define the term quotas indicated in bold in the text (paragraph [2]).

Using information from the text/data and your knowledge of economics, evaluate the view that free trade is beneficial to Japan’s economy.

Using information from the text/data and your knowledge of economics, evaluate the view that free trade is beneficial to Japan’s economy.

Using information from the text/data and your knowledge of economics, evaluate the view that free trade is beneficial to Japan’s economy.

Using an externalities diagram, explain why “business pollution” is leading to market failure in STP (paragraph [5]).

Using an externalities diagram, explain why “business pollution” is leading to market failure in STP (paragraph [5]).

Using an externalities diagram, explain why “business pollution” is leading to market failure in STP (paragraph [5]).

Using information from the text/data and your knowledge of economics, discuss the role of aid in achieving economic development in STP.

Using information from the text/data and your knowledge of economics, discuss the role of aid in achieving economic development in STP.

Using information from the text/data and your knowledge of economics, discuss the role of aid in achieving economic development in STP.

Define the term asymmetric information indicated in bold in the text (paragraph [6]).

Define the term asymmetric information indicated in bold in the text (paragraph [6]).

Define the term asymmetric information indicated in bold in the text (paragraph [6]).

Using a costs diagram, explain how the expansion of the coconut industry could lead to economies of scale (paragraph [4]).

Using a costs diagram, explain how the expansion of the coconut industry could lead to economies of scale (paragraph [4]).

Using a costs diagram, explain how the expansion of the coconut industry could lead to economies of scale (paragraph [4]).

Using information from the text/data and your knowledge of economics, discuss the view that government intervention is the best way to achieve economic development in Fiji.

Using information from the text/data and your knowledge of economics, discuss the view that government intervention is the best way to achieve economic development in Fiji.

Using information from the text/data and your knowledge of economics, discuss the view that government intervention is the best way to achieve economic development in Fiji.

Evaluate the view that the threat to sustainability, caused by economic activity requiring the use of fossil fuels, is best addressed through the use of carbon taxes.

Evaluate the view that the threat to sustainability, caused by economic activity requiring the use of fossil fuels, is best addressed through the use of carbon taxes.

Evaluate the view that the threat to sustainability, caused by economic activity requiring the use of fossil fuels, is best addressed through the use of carbon taxes.

Evaluate the effectiveness of monetary policy in reducing an economy’s rate of unemployment.

Evaluate the effectiveness of monetary policy in reducing an economy’s rate of unemployment.

Evaluate the effectiveness of monetary policy in reducing an economy’s rate of unemployment.

Explain why governments impose price floors in the market for agricultural products.

Explain why governments impose price floors in the market for agricultural products.

Explain why governments impose price floors in the market for agricultural products.

Discuss the consequences of a perfectly competitive market becoming a monopoly market.

Discuss the consequences of a perfectly competitive market becoming a monopoly market.

Discuss the consequences of a perfectly competitive market becoming a monopoly market.

Explain two causes of structural unemployment.

Explain two causes of structural unemployment.

Explain two causes of structural unemployment.

Explain why the price elasticity of demand for primary commodities is often relatively low while the price elasticity of demand for manufactured goods is often relatively high.

Explain why the price elasticity of demand for primary commodities is often relatively low while the price elasticity of demand for manufactured goods is often relatively high.

Explain why the price elasticity of demand for primary commodities is often relatively low while the price elasticity of demand for manufactured goods is often relatively high.

Evaluate the effectiveness of monetary policy in reducing an economy’s rate of inflation.

Evaluate the effectiveness of monetary policy in reducing an economy’s rate of inflation.

Evaluate the effectiveness of monetary policy in reducing an economy’s rate of inflation.

Discuss the view that governments should always try to prevent the creation of barriers to entry in a market.

Discuss the view that governments should always try to prevent the creation of barriers to entry in a market.

Discuss the view that governments should always try to prevent the creation of barriers to entry in a market.

Discuss the view that deflation is more harmful than inflation.

Discuss the view that deflation is more harmful than inflation.

Discuss the view that deflation is more harmful than inflation.

Define the term consumption indicated in bold in the text (paragraph [3]).

Define the term consumption indicated in bold in the text (paragraph [3]).

Define the term consumption indicated in bold in the text (paragraph [3]).

Using information from the text/data and your knowledge of economics, evaluate the impacts of free trade measures on China’s economy.

Using information from the text/data and your knowledge of economics, evaluate the impacts of free trade measures on China’s economy.

Using information from the text/data and your knowledge of economics, evaluate the impacts of free trade measures on China’s economy.

Define the term depreciation indicated in bold in the text (paragraph [4]).

Define the term depreciation indicated in bold in the text (paragraph [4]).

Define the term depreciation indicated in bold in the text (paragraph [4]).

Define the term recession indicated in bold in the text (paragraph [1]).

Define the term recession indicated in bold in the text (paragraph [1]).

Define the term recession indicated in bold in the text (paragraph [1]).

Using a demand and supply diagram, explain the impact on households of “removing some subsidies on food” (paragraph [5]).

Using a demand and supply diagram, explain the impact on households of “removing some subsidies on food” (paragraph [5]).

Using a demand and supply diagram, explain the impact on households of “removing some subsidies on food” (paragraph [5]).

Using information from the text/data and your knowledge of economics, evaluate the effectiveness of market-oriented policies in achieving economic development in Angola.

Using information from the text/data and your knowledge of economics, evaluate the effectiveness of market-oriented policies in achieving economic development in Angola.

Using information from the text/data and your knowledge of economics, evaluate the effectiveness of market-oriented policies in achieving economic development in Angola.

Define the term economic growth indicated in bold in the text (paragraph [1]).

Define the term economic growth indicated in bold in the text (paragraph [1]).

Define the term economic growth indicated in bold in the text (paragraph [1]).

Define the term free trade indicated in bold in the text (paragraph [1]).

Define the term free trade indicated in bold in the text (paragraph [1]).

Define the term free trade indicated in bold in the text (paragraph [1]).

Using a perfect competition diagram, explain whether farmers in the Philippines are making an economic profit or loss (Table 1).

Using a perfect competition diagram, explain whether farmers in the Philippines are making an economic profit or loss (Table 1).

Using a perfect competition diagram, explain whether farmers in the Philippines are making an economic profit or loss (Table 1).

Using an exchange rate diagram, explain why the “widening trade deficit in services” could lead to a depreciation of the renminbi (paragraph [3]).

Using an exchange rate diagram, explain why the “widening trade deficit in services” could lead to a depreciation of the renminbi (paragraph [3]).

Using an exchange rate diagram, explain why the “widening trade deficit in services” could lead to a depreciation of the renminbi (paragraph [3]).

Define the term gross domestic product (GDP) per capita indicated in bold in the text (paragraph [1]).

Define the term gross domestic product (GDP) per capita indicated in bold in the text (paragraph [1]).

Define the term gross domestic product (GDP) per capita indicated in bold in the text (paragraph [1]).

Using an externalities diagram, explain the benefits of hygiene and sanitation education programmes (paragraph [5]).

Using an externalities diagram, explain the benefits of hygiene and sanitation education programmes (paragraph [5]).

Using an externalities diagram, explain the benefits of hygiene and sanitation education programmes (paragraph [5]).

Using information from the text/data and your knowledge of economics, evaluate the effectiveness of interventionist policies as a means of achieving economic development in the DRC.

Using information from the text/data and your knowledge of economics, evaluate the effectiveness of interventionist policies as a means of achieving economic development in the DRC.

Using information from the text/data and your knowledge of economics, evaluate the effectiveness of interventionist policies as a means of achieving economic development in the DRC.

Define the term investment indicated in bold in the text (paragraph [5]).

Define the term investment indicated in bold in the text (paragraph [5]).

Define the term investment indicated in bold in the text (paragraph [5]).

Using a perfectly competitive firm diagram, explain the effect of declining prices of coffee beans on the profits of Honduras’ coffee farmers in the short run (paragraph [2]).

Using a perfectly competitive firm diagram, explain the effect of declining prices of coffee beans on the profits of Honduras’ coffee farmers in the short run (paragraph [2]).

Using a perfectly competitive firm diagram, explain the effect of declining prices of coffee beans on the profits of Honduras’ coffee farmers in the short run (paragraph [2]).

Using information from the text/data and your knowledge of economics, contrast the potential for economic development in Guatemala and Honduras.

Using information from the text/data and your knowledge of economics, contrast the potential for economic development in Guatemala and Honduras.

Using information from the text/data and your knowledge of economics, contrast the potential for economic development in Guatemala and Honduras.

Country D is an economically less developed country that specializes in the production of primary products. 

Explain two implications for Country D of a relatively low income elasticity of demand for its primary products.

Country D is an economically less developed country that specializes in the production of primary products. 

Explain two implications for Country D of a relatively low income elasticity of demand for its primary products.

Country D is an economically less developed country that specializes in the production of primary products. 

Explain two implications for Country D of a relatively low income elasticity of demand for its primary products.

Calculate the change in producer surplus resulting from the imposition of the maximum price.

Calculate the change in producer surplus resulting from the imposition of the maximum price.

Calculate the change in producer surplus resulting from the imposition of the maximum price.

State two methods of non-price rationing.

State two methods of non-price rationing.

State two methods of non-price rationing.

Using your answer to part (a), calculate Averna’s real GDP per capita in 2019.

Using your answer to part (a), calculate Averna’s real GDP per capita in 2019.

Using your answer to part (a), calculate Averna’s real GDP per capita in 2019.

Identify a period in which Country Y experienced disinflation.

Identify a period in which Country Y experienced disinflation.

Identify a period in which Country Y experienced disinflation.

Explain how a decrease in income might affect the demand for normal goods and the demand for inferior goods.

Explain how a decrease in income might affect the demand for normal goods and the demand for inferior goods.

Explain how a decrease in income might affect the demand for normal goods and the demand for inferior goods.

Discuss the significance of income elasticity of demand for producers of primary products and producers of manufactured goods when incomes are rising.

Discuss the significance of income elasticity of demand for producers of primary products and producers of manufactured goods when incomes are rising.

Discuss the significance of income elasticity of demand for producers of primary products and producers of manufactured goods when incomes are rising.

Explain the impact on consumers, producers and the government of a price floor being introduced in an agricultural market.

Explain the impact on consumers, producers and the government of a price floor being introduced in an agricultural market.

Explain the impact on consumers, producers and the government of a price floor being introduced in an agricultural market.

Explain why merit goods tend to be under-provided in a free market.

Explain why merit goods tend to be under-provided in a free market.

Explain why merit goods tend to be under-provided in a free market.

Evaluate the use of carbon taxes to reduce threats to sustainability.

Evaluate the use of carbon taxes to reduce threats to sustainability.

Evaluate the use of carbon taxes to reduce threats to sustainability.

Explain why producers in an oligopolistic market might choose to engage in non-price competition.

Explain why producers in an oligopolistic market might choose to engage in non-price competition.

Explain why producers in an oligopolistic market might choose to engage in non-price competition.

Evaluate the view that the use of legislation and regulation by government is the most effective way to control monopoly power.

Evaluate the view that the use of legislation and regulation by government is the most effective way to control monopoly power.

Evaluate the view that the use of legislation and regulation by government is the most effective way to control monopoly power.

Discuss the view that economic growth always leads to rising living standards.

Discuss the view that economic growth always leads to rising living standards.

Discuss the view that economic growth always leads to rising living standards.

List two functions of the World Trade Organization (WTO) (paragraph [2]).

List two functions of the World Trade Organization (WTO) (paragraph [2]).

List two functions of the World Trade Organization (WTO) (paragraph [2]).

Using a foreign exchange diagram, explain the possible effect of China’s large current account surplus in 2007 on the exchange rate of China’s currency (the renminbi) (paragraph [6]).

Using a foreign exchange diagram, explain the possible effect of China’s large current account surplus in 2007 on the exchange rate of China’s currency (the renminbi) (paragraph [6]).

Using a foreign exchange diagram, explain the possible effect of China’s large current account surplus in 2007 on the exchange rate of China’s currency (the renminbi) (paragraph [6]).

Using an AD/AS diagram, explain how the change in the balance of trade in goods and services from 2018 to 2019 could have affected South Korea’s economy (Table 1 and paragraph [1]).

Using an AD/AS diagram, explain how the change in the balance of trade in goods and services from 2018 to 2019 could have affected South Korea’s economy (Table 1 and paragraph [1]).

Using an AD/AS diagram, explain how the change in the balance of trade in goods and services from 2018 to 2019 could have affected South Korea’s economy (Table 1 and paragraph [1]).

Using an exchange rate diagram, explain the effect on the South Korean won’s exchange rate of South Korea’s central bank selling US dollars (paragraph [6]).

Using an exchange rate diagram, explain the effect on the South Korean won’s exchange rate of South Korea’s central bank selling US dollars (paragraph [6]).

Using an exchange rate diagram, explain the effect on the South Korean won’s exchange rate of South Korea’s central bank selling US dollars (paragraph [6]).

Using information from the text/data and your knowledge of economics, evaluate the South Korean central bank’s decision to intervene in order to prevent the South Korean won from depreciating again.

Using information from the text/data and your knowledge of economics, evaluate the South Korean central bank’s decision to intervene in order to prevent the South Korean won from depreciating again.

Using information from the text/data and your knowledge of economics, evaluate the South Korean central bank’s decision to intervene in order to prevent the South Korean won from depreciating again.

List two functions of the World Bank (paragraph [3]).

List two functions of the World Bank (paragraph [3]).

List two functions of the World Bank (paragraph [3]).

Define the term unemployment indicated in bold in the text (paragraph [6]).

Define the term unemployment indicated in bold in the text (paragraph [6]).

Define the term unemployment indicated in bold in the text (paragraph [6]).

Using a demand and supply diagram, explain why the global price of coffee beans dropped when “countries such as Vietnam, Indonesia and Ethiopia increased their exports” (paragraph [2]).

Using a demand and supply diagram, explain why the global price of coffee beans dropped when “countries such as Vietnam, Indonesia and Ethiopia increased their exports” (paragraph [2]).

Using a demand and supply diagram, explain why the global price of coffee beans dropped when “countries such as Vietnam, Indonesia and Ethiopia increased their exports” (paragraph [2]).

Using an externalities diagram, explain how coal-fired power plants in the US might be causing market failure (paragraphs [3] and [4]). 

Using an externalities diagram, explain how coal-fired power plants in the US might be causing market failure (paragraphs [3] and [4]). 

Using an externalities diagram, explain how coal-fired power plants in the US might be causing market failure (paragraphs [3] and [4]). 

Using information from the text/data and your knowledge of economics, discuss the extent to which foreign aid from the US may assist economic development in Honduras.

Using information from the text/data and your knowledge of economics, discuss the extent to which foreign aid from the US may assist economic development in Honduras.

Using information from the text/data and your knowledge of economics, discuss the extent to which foreign aid from the US may assist economic development in Honduras.

Define the term budget deficit indicated in bold in the text (paragraph [2]).

Define the term budget deficit indicated in bold in the text (paragraph [2]).

Define the term budget deficit indicated in bold in the text (paragraph [2]).

Define the term human capital indicated in bold in the text (paragraph [7]).

Define the term human capital indicated in bold in the text (paragraph [7]).

Define the term human capital indicated in bold in the text (paragraph [7]).

Using a Lorenz curve diagram, explain what is meant by an “increase in income inequality from 2015 to 2019” (paragraph [6]).

Using a Lorenz curve diagram, explain what is meant by an “increase in income inequality from 2015 to 2019” (paragraph [6]).

Using a Lorenz curve diagram, explain what is meant by an “increase in income inequality from 2015 to 2019” (paragraph [6]).

Using information from the text/data and your knowledge of economics, evaluate the impact on economic development of the Tanzanian government’s policy of spending on infrastructure projects. 

Using information from the text/data and your knowledge of economics, evaluate the impact on economic development of the Tanzanian government’s policy of spending on infrastructure projects. 

Using information from the text/data and your knowledge of economics, evaluate the impact on economic development of the Tanzanian government’s policy of spending on infrastructure projects. 

Using an exchange rate diagram, explain how a decrease in the interest rate might influence the value of the Thai baht (paragraph [6]).

Using an exchange rate diagram, explain how a decrease in the interest rate might influence the value of the Thai baht (paragraph [6]).

Using an exchange rate diagram, explain how a decrease in the interest rate might influence the value of the Thai baht (paragraph [6]).

State two functions of the World Trade Organization (WTO) (paragraph [6]).

State two functions of the World Trade Organization (WTO) (paragraph [6]).

State two functions of the World Trade Organization (WTO) (paragraph [6]).

Using a production possibilities curve (PPC) diagram to illustrate comparative advantage, explain why the EU would export cars to Indonesia and Indonesia would export clothing to the EU (paragraph [2]).

Using a production possibilities curve (PPC) diagram to illustrate comparative advantage, explain why the EU would export cars to Indonesia and Indonesia would export clothing to the EU (paragraph [2]).

Using a production possibilities curve (PPC) diagram to illustrate comparative advantage, explain why the EU would export cars to Indonesia and Indonesia would export clothing to the EU (paragraph [2]).

Define the term foreign direct investment indicated in bold in the text (paragraph [3]).

Define the term foreign direct investment indicated in bold in the text (paragraph [3]).

Define the term foreign direct investment indicated in bold in the text (paragraph [3]).

Using a demand and supply diagram, explain how a subsidy changes the consumer surplus for a good (paragraph [6]).

Using a demand and supply diagram, explain how a subsidy changes the consumer surplus for a good (paragraph [6]).

Using a demand and supply diagram, explain how a subsidy changes the consumer surplus for a good (paragraph [6]).

Using information from the text/data and your knowledge of economics, discuss the effectiveness of foreign aid in achieving economic development in Vanuatu.

Using information from the text/data and your knowledge of economics, discuss the effectiveness of foreign aid in achieving economic development in Vanuatu.

Using information from the text/data and your knowledge of economics, discuss the effectiveness of foreign aid in achieving economic development in Vanuatu.

Define the term multinational corporations indicated in bold in the text (paragraph [5]).

Define the term multinational corporations indicated in bold in the text (paragraph [5]).

Define the term multinational corporations indicated in bold in the text (paragraph [5]).

Using an externalities diagram, explain how manufacturing companies in Brazil are contributing to market failure (paragraph [7]). 

Using an externalities diagram, explain how manufacturing companies in Brazil are contributing to market failure (paragraph [7]). 

Using an externalities diagram, explain how manufacturing companies in Brazil are contributing to market failure (paragraph [7]). 

Using information from the text/data and your knowledge of economics, evaluate the impact of market-oriented policies on economic development in Brazil.

Using information from the text/data and your knowledge of economics, evaluate the impact of market-oriented policies on economic development in Brazil.

Using information from the text/data and your knowledge of economics, evaluate the impact of market-oriented policies on economic development in Brazil.

Using the data in Table 2, calculate factor income sent (paid) abroad in 2019.

Using the data in Table 2, calculate factor income sent (paid) abroad in 2019.

Using the data in Table 2, calculate factor income sent (paid) abroad in 2019.

If the government increased expenditures by K$21 billion, calculate the new level of GDP achieved.

If the government increased expenditures by K$21 billion, calculate the new level of GDP achieved.

If the government increased expenditures by K$21 billion, calculate the new level of GDP achieved.

In many developing countries GNI figures are lower than GDP figures. Outline how this may be due to the high levels of foreign direct investment (FDI) in developing countries.

In many developing countries GNI figures are lower than GDP figures. Outline how this may be due to the high levels of foreign direct investment (FDI) in developing countries.

In many developing countries GNI figures are lower than GDP figures. Outline how this may be due to the high levels of foreign direct investment (FDI) in developing countries.

With reference to the CPI data in Table 3, describe the most likely monetary policy response adopted at the end of 2018 by the central bank of Kanyaland.

With reference to the CPI data in Table 3, describe the most likely monetary policy response adopted at the end of 2018 by the central bank of Kanyaland.

With reference to the CPI data in Table 3, describe the most likely monetary policy response adopted at the end of 2018 by the central bank of Kanyaland.

Using Table 4, calculate the average tax rate for Sammy.

Using Table 4, calculate the average tax rate for Sammy.

Using Table 4, calculate the average tax rate for Sammy.

Using Table 5, calculate the value of net current transfers for Laylaland in 2020.

Using Table 5, calculate the value of net current transfers for Laylaland in 2020.

Using Table 5, calculate the value of net current transfers for Laylaland in 2020.

Calculate the price elasticity of demand for chia seeds in Nofiberland following the imposition of the tariff.

Calculate the price elasticity of demand for chia seeds in Nofiberland following the imposition of the tariff.

Calculate the price elasticity of demand for chia seeds in Nofiberland following the imposition of the tariff.

Explain two reasons why a government might set a price ceiling (maximum price) on a good.

Explain two reasons why a government might set a price ceiling (maximum price) on a good.

Explain two reasons why a government might set a price ceiling (maximum price) on a good.

Using real-world examples, discuss the consequences of a price ceiling on stakeholders.

Using real-world examples, discuss the consequences of a price ceiling on stakeholders.

Using real-world examples, discuss the consequences of a price ceiling on stakeholders.

Using real-world examples, evaluate different approaches to managing common access resources.

Using real-world examples, evaluate different approaches to managing common access resources.

Using real-world examples, evaluate different approaches to managing common access resources.

Using real-world examples, discuss the possible implications of a persistent current account deficit.

Using real-world examples, discuss the possible implications of a persistent current account deficit.

Using real-world examples, discuss the possible implications of a persistent current account deficit.

Explain how the use of supply-side policies might encourage greater domestic competition and improve the international competitiveness of a country.

Explain how the use of supply-side policies might encourage greater domestic competition and improve the international competitiveness of a country.

Explain how the use of supply-side policies might encourage greater domestic competition and improve the international competitiveness of a country.

Using real-world examples, evaluate the effects for stakeholders of a government imposing an indirect tax on a particular good.

Using real-world examples, evaluate the effects for stakeholders of a government imposing an indirect tax on a particular good.

Using real-world examples, evaluate the effects for stakeholders of a government imposing an indirect tax on a particular good.

Using real-world examples, evaluate the view that the use of interventionist supply-side policies is the most effective way of reducing a country’s rate of unemployment.

Using real-world examples, evaluate the view that the use of interventionist supply-side policies is the most effective way of reducing a country’s rate of unemployment.

Using real-world examples, evaluate the view that the use of interventionist supply-side policies is the most effective way of reducing a country’s rate of unemployment.

Explain how political and social factors can act as barriers to economic growth and economic development.

Explain how political and social factors can act as barriers to economic growth and economic development.

Explain how political and social factors can act as barriers to economic growth and economic development.

Countries often specialize and trade according to the theory of comparative advantage. Explain the limitations of this approach.

Countries often specialize and trade according to the theory of comparative advantage. Explain the limitations of this approach.

Countries often specialize and trade according to the theory of comparative advantage. Explain the limitations of this approach.

Using real-world examples, discuss the advantages and disadvantages for a country of being a member of a trading bloc. 

Using real-world examples, discuss the advantages and disadvantages for a country of being a member of a trading bloc. 

Using real-world examples, discuss the advantages and disadvantages for a country of being a member of a trading bloc. 

Distinguish between perfect competition and monopolistic competition.

Distinguish between perfect competition and monopolistic competition.

Distinguish between perfect competition and monopolistic competition.

Using real-world examples, discuss the impact of large firms having significant market power.

Using real-world examples, discuss the impact of large firms having significant market power.

Using real-world examples, discuss the impact of large firms having significant market power.

Define the term foreign direct investment (FDI) indicated in bold in the text (Text A, paragraph [3]).

Define the term foreign direct investment (FDI) indicated in bold in the text (Text A, paragraph [3]).

Define the term foreign direct investment (FDI) indicated in bold in the text (Text A, paragraph [3]).

Using an exchange rate diagram, explain how the central bank of North Macedonia is preventing an appreciation of the denar against the euro (Text B, paragraph [4]).

Using an exchange rate diagram, explain how the central bank of North Macedonia is preventing an appreciation of the denar against the euro (Text B, paragraph [4]).

Using an exchange rate diagram, explain how the central bank of North Macedonia is preventing an appreciation of the denar against the euro (Text B, paragraph [4]).

Using an international trade diagram, explain the likely impact of the removal of import quotas on North Macedonia’s production of wine (Text C).

Using an international trade diagram, explain the likely impact of the removal of import quotas on North Macedonia’s production of wine (Text C).

Using an international trade diagram, explain the likely impact of the removal of import quotas on North Macedonia’s production of wine (Text C).

Using information from Text A, paragraph [4], calculate North Macedonia’s balance of trade in 2018.

Using information from Text A, paragraph [4], calculate North Macedonia’s balance of trade in 2018.

Using information from Text A, paragraph [4], calculate North Macedonia’s balance of trade in 2018.

Using an externalities diagram, explain how dependence on coal could be a source of market failure (Text B, paragraph [3]).

Using an externalities diagram, explain how dependence on coal could be a source of market failure (Text B, paragraph [3]).

Using an externalities diagram, explain how dependence on coal could be a source of market failure (Text B, paragraph [3]).

Using information from the texts/data and your knowledge of economics, discuss the likely economic effects on North Macedonia of its entry into the European Union (EU) Common Market.

Using information from the texts/data and your knowledge of economics, discuss the likely economic effects on North Macedonia of its entry into the European Union (EU) Common Market.

Using information from the texts/data and your knowledge of economics, discuss the likely economic effects on North Macedonia of its entry into the European Union (EU) Common Market.

Define the term gross domestic product (GDP) indicated in bold in the text (Text D, paragraph [1]).

Define the term gross domestic product (GDP) indicated in bold in the text (Text D, paragraph [1]).

Define the term gross domestic product (GDP) indicated in bold in the text (Text D, paragraph [1]).

Using an AD/AS diagram, explain the likely impact of North Macedonia’s supply-side policies on its full employment level of output (Text B, paragraph [2]).

Using an AD/AS diagram, explain the likely impact of North Macedonia’s supply-side policies on its full employment level of output (Text B, paragraph [2]).

Using an AD/AS diagram, explain the likely impact of North Macedonia’s supply-side policies on its full employment level of output (Text B, paragraph [2]).

Using the information in Table 3, calculate Sierra Leone’s rate of economic growth between 2017 and 2018.

Using the information in Table 3, calculate Sierra Leone’s rate of economic growth between 2017 and 2018.

Using the information in Table 3, calculate Sierra Leone’s rate of economic growth between 2017 and 2018.

Using a poverty cycle diagram, explain how the provision of free primary and secondary education may help households break the poverty cycle (Text E, paragraph [2]).

Using a poverty cycle diagram, explain how the provision of free primary and secondary education may help households break the poverty cycle (Text E, paragraph [2]).

Using a poverty cycle diagram, explain how the provision of free primary and secondary education may help households break the poverty cycle (Text E, paragraph [2]).

Using information from the texts/data and your knowledge of economics, evaluate the impact of government intervention in promoting economic growth and economic development in Sierra Leone.

Using information from the texts/data and your knowledge of economics, evaluate the impact of government intervention in promoting economic growth and economic development in Sierra Leone.

Using information from the texts/data and your knowledge of economics, evaluate the impact of government intervention in promoting economic growth and economic development in Sierra Leone.

Sketch a demand and supply diagram to show the effect on revenue earned by Vietnamese farmers with improved access to the Japanese market (Text B, paragraph [1]).

Sketch a demand and supply diagram to show the effect on revenue earned by Vietnamese farmers with improved access to the Japanese market (Text B, paragraph [1]).

Sketch a demand and supply diagram to show the effect on revenue earned by Vietnamese farmers with improved access to the Japanese market (Text B, paragraph [1]).

Explain two economies of scale which may not be available to smaller farms (Text A, paragraph [2]).

Explain two economies of scale which may not be available to smaller farms (Text A, paragraph [2]).

Explain two economies of scale which may not be available to smaller farms (Text A, paragraph [2]).

Using a demand and supply of money diagram, explain the likely effect on interest rates of a reduction in the minimum reserve requirement for banks (Text C, paragraph [1]).

Using a demand and supply of money diagram, explain the likely effect on interest rates of a reduction in the minimum reserve requirement for banks (Text C, paragraph [1]).

Using a demand and supply of money diagram, explain the likely effect on interest rates of a reduction in the minimum reserve requirement for banks (Text C, paragraph [1]).

List two of the Sustainable Development Goals (Text D, paragraph [1]).

List two of the Sustainable Development Goals (Text D, paragraph [1]).

List two of the Sustainable Development Goals (Text D, paragraph [1]).

Using a poverty cycle diagram, explain how an increase in funds for the education of teenage girls could break the poverty cycle (Text D, paragraph [2]).

Using a poverty cycle diagram, explain how an increase in funds for the education of teenage girls could break the poverty cycle (Text D, paragraph [2]).

Using a poverty cycle diagram, explain how an increase in funds for the education of teenage girls could break the poverty cycle (Text D, paragraph [2]).

Using a demand and supply diagram, explain how the rise in the maximum price of maize would change the welfare loss associated with the maximum price (Text E, paragraph [2]).

Using a demand and supply diagram, explain how the rise in the maximum price of maize would change the welfare loss associated with the maximum price (Text E, paragraph [2]).

Using a demand and supply diagram, explain how the rise in the maximum price of maize would change the welfare loss associated with the maximum price (Text E, paragraph [2]).

Using the information provided in Table 1, calculate the rate of unemployment for Burundi in 2019.

Using the information provided in Table 1, calculate the rate of unemployment for Burundi in 2019.

Using the information provided in Table 1, calculate the rate of unemployment for Burundi in 2019.

Explain why dependence on primary sector production may be considered a barrier to economic development.

Explain why dependence on primary sector production may be considered a barrier to economic development.

Explain why dependence on primary sector production may be considered a barrier to economic development.

Using the information in Figure 1, calculate the change in the value of Burundi’s gold exports resulting from the increase in the price of gold from US$1500 per oz to US$1800 per oz.

Using the information in Figure 1, calculate the change in the value of Burundi’s gold exports resulting from the increase in the price of gold from US$1500 per oz to US$1800 per oz.

Using the information in Figure 1, calculate the change in the value of Burundi’s gold exports resulting from the increase in the price of gold from US$1500 per oz to US$1800 per oz.

Using the text/data provided and your knowledge of economics, recommend a policy which could be introduced by the government of Burundi to reduce income inequality in Burundi.

Using the text/data provided and your knowledge of economics, recommend a policy which could be introduced by the government of Burundi to reduce income inequality in Burundi.

Using the text/data provided and your knowledge of economics, recommend a policy which could be introduced by the government of Burundi to reduce income inequality in Burundi.

Using Figure 2, calculate the revenue (in rupees per day) collected from the indirect taxes on petrol in New Delhi.

Using Figure 2, calculate the revenue (in rupees per day) collected from the indirect taxes on petrol in New Delhi.

Using Figure 2, calculate the revenue (in rupees per day) collected from the indirect taxes on petrol in New Delhi.

Using Figure 2 and your answer to part (a)(ii), calculate the loss in consumer surplus which results from the imposition of indirect taxes on petrol in New Delhi.

Using Figure 2 and your answer to part (a)(ii), calculate the loss in consumer surplus which results from the imposition of indirect taxes on petrol in New Delhi.

Using Figure 2 and your answer to part (a)(ii), calculate the loss in consumer surplus which results from the imposition of indirect taxes on petrol in New Delhi.

Using the text/data provided and your knowledge of economics, recommend a policy which could be introduced by the government of India in order to address the problem of traffic congestion in New Delhi.

Using the text/data provided and your knowledge of economics, recommend a policy which could be introduced by the government of India in order to address the problem of traffic congestion in New Delhi.

Using the text/data provided and your knowledge of economics, recommend a policy which could be introduced by the government of India in order to address the problem of traffic congestion in New Delhi.

Using Figure 2 and your answer to part (a)(ii), show that in the absence of indirect taxes the supply of petrol in New Delhi would be price inelastic.

Using Figure 2 and your answer to part (a)(ii), show that in the absence of indirect taxes the supply of petrol in New Delhi would be price inelastic.

Using Figure 2 and your answer to part (a)(ii), show that in the absence of indirect taxes the supply of petrol in New Delhi would be price inelastic.

Using real-world examples, discuss the view that governments should intervene if markets fail to provide public goods.

Using real-world examples, discuss the view that governments should intervene if markets fail to provide public goods.

Using real-world examples, discuss the view that governments should intervene if markets fail to provide public goods.

Using real-world examples, evaluate the use of fiscal policy to close a deflationary/recessionary gap.

Using real-world examples, evaluate the use of fiscal policy to close a deflationary/recessionary gap.

Using real-world examples, evaluate the use of fiscal policy to close a deflationary/recessionary gap.

Explain two forms of government intervention in markets.

Explain two forms of government intervention in markets.

Explain two forms of government intervention in markets.

Explain two goals of fiscal policy.

Explain two goals of fiscal policy.

Explain two goals of fiscal policy.

Explain two factors that might cause an appreciation of a currency.

Explain two factors that might cause an appreciation of a currency.

Explain two factors that might cause an appreciation of a currency.

Using real-world examples, discuss the consequences for an economy of an appreciation of its currency.

Using real-world examples, discuss the consequences for an economy of an appreciation of its currency.

Using real-world examples, discuss the consequences for an economy of an appreciation of its currency.

Explain why a sustainable level of government (national) debt is an important macroeconomic objective.

Explain why a sustainable level of government (national) debt is an important macroeconomic objective.

Explain why a sustainable level of government (national) debt is an important macroeconomic objective.

Using real-world examples, discuss the potential trade-off between unemployment and inflation.

Using real-world examples, discuss the potential trade-off between unemployment and inflation.

Using real-world examples, discuss the potential trade-off between unemployment and inflation.

Using real-world examples, evaluate the decision of a country to remain a member of a trading bloc.

Using real-world examples, evaluate the decision of a country to remain a member of a trading bloc.

Using real-world examples, evaluate the decision of a country to remain a member of a trading bloc.

Using an international trade diagram for the US market, explain how the imposition of a 15$$% tariff on imported garments from Bangladesh would affect the revenue earned by Bangladeshi producers (Text B, paragraph [2]).

Using an international trade diagram for the US market, explain how the imposition of a 15$$% tariff on imported garments from Bangladesh would affect the revenue earned by Bangladeshi producers (Text B, paragraph [2]).

Using an international trade diagram for the US market, explain how the imposition of a 15$$% tariff on imported garments from Bangladesh would affect the revenue earned by Bangladeshi producers (Text B, paragraph [2]).

Using an externalities diagram, explain why the government should subsidize health care (Text E).

Using an externalities diagram, explain why the government should subsidize health care (Text E).

Using an externalities diagram, explain why the government should subsidize health care (Text E).

Define the term informal economy indicated in bold in the text (Text A, paragraph [1]).

Define the term informal economy indicated in bold in the text (Text A, paragraph [1]).

Define the term informal economy indicated in bold in the text (Text A, paragraph [1]).

Using information from Table 1, calculate the unemployment rate for Bangladesh in 2019.

Using information from Table 1, calculate the unemployment rate for Bangladesh in 2019.

Using information from Table 1, calculate the unemployment rate for Bangladesh in 2019.

Using information from Table 1, calculate the price of this shirt in US$ in 2019.

Using information from Table 1, calculate the price of this shirt in US$ in 2019.

Using information from Table 1, calculate the price of this shirt in US$ in 2019.

Using an exchange rate diagram, explain how the change in imports of goods and services from 2010 to 2019 is likely to have affected the exchange rate of the Bangladeshi taka (Table 1).

Using an exchange rate diagram, explain how the change in imports of goods and services from 2010 to 2019 is likely to have affected the exchange rate of the Bangladeshi taka (Table 1).

Using an exchange rate diagram, explain how the change in imports of goods and services from 2010 to 2019 is likely to have affected the exchange rate of the Bangladeshi taka (Table 1).

Using a Lorenz curve diagram, explain what happened to the distribution of income in Bangladesh between 2010 and 2019 (Table 2).

Using a Lorenz curve diagram, explain what happened to the distribution of income in Bangladesh between 2010 and 2019 (Table 2).

Using a Lorenz curve diagram, explain what happened to the distribution of income in Bangladesh between 2010 and 2019 (Table 2).

Using information from the text/data and your knowledge of economics, discuss the extent to which the ready-made garments (RMG) sector in Bangladesh contributes to achieving the Sustainable Development Goal: “Promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all”.

Using information from the text/data and your knowledge of economics, discuss the extent to which the ready-made garments (RMG) sector in Bangladesh contributes to achieving the Sustainable Development Goal: “Promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all”.

Using information from the text/data and your knowledge of economics, discuss the extent to which the ready-made garments (RMG) sector in Bangladesh contributes to achieving the Sustainable Development Goal: “Promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all”.

Define the term budget deficit indicated in bold in the text (Text D, paragraph [3]).

Define the term budget deficit indicated in bold in the text (Text D, paragraph [3]).

Define the term budget deficit indicated in bold in the text (Text D, paragraph [3]).

Using information from Table 6, calculate the current account balance in 2019.

Using information from Table 6, calculate the current account balance in 2019.

Using information from Table 6, calculate the current account balance in 2019.

Using an AD/AS diagram, explain how climate-related shocks, such as droughts, could affect real GDP growth (Text F, paragraph [1]).

Using an AD/AS diagram, explain how climate-related shocks, such as droughts, could affect real GDP growth (Text F, paragraph [1]).

Using an AD/AS diagram, explain how climate-related shocks, such as droughts, could affect real GDP growth (Text F, paragraph [1]).

Using an international trade diagram, explain the effect on consumers in Uruguay if a quota is imposed on cheese imports from the EU (Text F, paragraph [2]).

Using an international trade diagram, explain the effect on consumers in Uruguay if a quota is imposed on cheese imports from the EU (Text F, paragraph [2]).

Using an international trade diagram, explain the effect on consumers in Uruguay if a quota is imposed on cheese imports from the EU (Text F, paragraph [2]).

Using an exchange rate diagram, explain how the central bank in Uruguay can use reserve assets to prevent the depreciation of the peso (Text F, paragraph [3]).

Using an exchange rate diagram, explain how the central bank in Uruguay can use reserve assets to prevent the depreciation of the peso (Text F, paragraph [3]).

Using an exchange rate diagram, explain how the central bank in Uruguay can use reserve assets to prevent the depreciation of the peso (Text F, paragraph [3]).

Define the term demand indicated in bold (Text A, paragraph [2]).

Define the term demand indicated in bold (Text A, paragraph [2]).

Define the term demand indicated in bold (Text A, paragraph [2]).

Define the term circular economy indicated in bold (Text C).

Define the term circular economy indicated in bold (Text C).

Define the term circular economy indicated in bold (Text C).

Using information from Text A, paragraph [2] and Table 1, calculate the income elasticity of demand (YED) for agricultural goods in Tanzania considering the change in income between 2008 and 2018.

Using information from Text A, paragraph [2] and Table 1, calculate the income elasticity of demand (YED) for agricultural goods in Tanzania considering the change in income between 2008 and 2018.

Using information from Text A, paragraph [2] and Table 1, calculate the income elasticity of demand (YED) for agricultural goods in Tanzania considering the change in income between 2008 and 2018.

Sketch a Lorenz curve diagram to show the change in Tanzania’s Gini coefficient from 2008 to 2018 (Table 2).

Sketch a Lorenz curve diagram to show the change in Tanzania’s Gini coefficient from 2008 to 2018 (Table 2).

Sketch a Lorenz curve diagram to show the change in Tanzania’s Gini coefficient from 2008 to 2018 (Table 2).

Using an AD/AS diagram, explain how crowding out may help control inflationary pressure in Tanzania (Text A, paragraph [5]).

Using an AD/AS diagram, explain how crowding out may help control inflationary pressure in Tanzania (Text A, paragraph [5]).

Using an AD/AS diagram, explain how crowding out may help control inflationary pressure in Tanzania (Text A, paragraph [5]).

Using an international trade diagram, explain how a subsidy could help Tanzanian dairy farmers compete against imported dairy products (Text B, paragraph [3]).

Using an international trade diagram, explain how a subsidy could help Tanzanian dairy farmers compete against imported dairy products (Text B, paragraph [3]).

Using an international trade diagram, explain how a subsidy could help Tanzanian dairy farmers compete against imported dairy products (Text B, paragraph [3]).

Using an exchange rate diagram, explain what could happen to the value of the Tanzanian shilling if there is increased inward foreign direct investment (FDI) in Tanzania (Text B, paragraph [4]).

Using an exchange rate diagram, explain what could happen to the value of the Tanzanian shilling if there is increased inward foreign direct investment (FDI) in Tanzania (Text B, paragraph [4]).

Using an exchange rate diagram, explain what could happen to the value of the Tanzanian shilling if there is increased inward foreign direct investment (FDI) in Tanzania (Text B, paragraph [4]).

Using an externalities diagram, explain how the construction of an oil pipeline through Tanzania could result in market failure (Text C).

Using an externalities diagram, explain how the construction of an oil pipeline through Tanzania could result in market failure (Text C).

Using an externalities diagram, explain how the construction of an oil pipeline through Tanzania could result in market failure (Text C).

Using information from the text/data and your knowledge of economics, discuss the different barriers to economic growth and to economic development faced by Tanzania.

Using information from the text/data and your knowledge of economics, discuss the different barriers to economic growth and to economic development faced by Tanzania.

Using information from the text/data and your knowledge of economics, discuss the different barriers to economic growth and to economic development faced by Tanzania.

Define the term humanitarian aid indicated in bold (Text D, paragraph [2]).

Define the term humanitarian aid indicated in bold (Text D, paragraph [2]).

Define the term humanitarian aid indicated in bold (Text D, paragraph [2]).

Define the term monopoly indicated in bold (Text E, paragraph [2]).

Define the term monopoly indicated in bold (Text E, paragraph [2]).

Define the term monopoly indicated in bold (Text E, paragraph [2]).

Using information from Table 3, calculate the 2015 gross national income for Lebanon.

Using information from Table 3, calculate the 2015 gross national income for Lebanon.

Using information from Table 3, calculate the 2015 gross national income for Lebanon.

Sketch a demand and supply diagram to show the impact of an indirect tax on the market for social media applications such as WhatsApp (Text E, paragraph [1]).

Sketch a demand and supply diagram to show the impact of an indirect tax on the market for social media applications such as WhatsApp (Text E, paragraph [1]).

Sketch a demand and supply diagram to show the impact of an indirect tax on the market for social media applications such as WhatsApp (Text E, paragraph [1]).

Using a PPC diagram, explain the impact of the damage to the major buildings in Beirut on Lebanon’s productive capacity (Text D, paragraph [2]).

Using a PPC diagram, explain the impact of the damage to the major buildings in Beirut on Lebanon’s productive capacity (Text D, paragraph [2]).

Using a PPC diagram, explain the impact of the damage to the major buildings in Beirut on Lebanon’s productive capacity (Text D, paragraph [2]).

Using a monopoly diagram, explain why a profit-maximizing state-run telecommunications firm might be making a loss (Text E, paragraph [2]).

Using a monopoly diagram, explain why a profit-maximizing state-run telecommunications firm might be making a loss (Text E, paragraph [2]).

Using a monopoly diagram, explain why a profit-maximizing state-run telecommunications firm might be making a loss (Text E, paragraph [2]).

Explain how expansionary fiscal policy could be used to close a deflationary (recessionary) gap.

Explain how expansionary fiscal policy could be used to close a deflationary (recessionary) gap.

Explain how expansionary fiscal policy could be used to close a deflationary (recessionary) gap.

Explain two factors that might give rise to economies of scale for a firm.

Explain two factors that might give rise to economies of scale for a firm.

Explain two factors that might give rise to economies of scale for a firm.

Explain the possible impact of an increase in wealth and consumer confidence on aggregate demand.

Explain the possible impact of an increase in wealth and consumer confidence on aggregate demand.

Explain the possible impact of an increase in wealth and consumer confidence on aggregate demand.

Examine the significance of price elasticity of demand for the decision making of firms and government.

Examine the significance of price elasticity of demand for the decision making of firms and government.

Examine the significance of price elasticity of demand for the decision making of firms and government.

Explain how an increase in investment might lead to economic growth.

Explain how an increase in investment might lead to economic growth.

Explain how an increase in investment might lead to economic growth.

Explain how expansionary fiscal policy could be used to close a deflationary (recessionary) gap.

Explain how expansionary fiscal policy could be used to close a deflationary (recessionary) gap.

Explain how expansionary fiscal policy could be used to close a deflationary (recessionary) gap.

Discuss the view that governments should tax the consumption of gasoline (petroleum).

Discuss the view that governments should tax the consumption of gasoline (petroleum).

Discuss the view that governments should tax the consumption of gasoline (petroleum).

Evaluate government policies to deal with the different types of unemployment.

Evaluate government policies to deal with the different types of unemployment.

Evaluate government policies to deal with the different types of unemployment.

The government in Country Alpha reduces income taxes in 2019.
Using information from the graph to support your answer, explain the likely effect on the inflation rate and the unemployment rate.

The government in Country Alpha reduces income taxes in 2019.
Using information from the graph to support your answer, explain the likely effect on the inflation rate and the unemployment rate.

The government in Country Alpha reduces income taxes in 2019.
Using information from the graph to support your answer, explain the likely effect on the inflation rate and the unemployment rate.

The price of oil is expected to rise significantly, causing a sustained increase in energy costs.

Describe the likely effect of this sustained cost increase on the short-run Phillips curve (SRPC).

The price of oil is expected to rise significantly, causing a sustained increase in energy costs.

Describe the likely effect of this sustained cost increase on the short-run Phillips curve (SRPC).

The price of oil is expected to rise significantly, causing a sustained increase in energy costs.

Describe the likely effect of this sustained cost increase on the short-run Phillips curve (SRPC).

Explain the reason for your answer to part (d) (i).

Explain the reason for your answer to part (d) (i).

Explain the reason for your answer to part (d) (i).

Using the data in Table 3, calculate the level of investment.

Using the data in Table 3, calculate the level of investment.

Using the data in Table 3, calculate the level of investment.

The following diagram illustrates the long-run aggregate supply curve (LRAS), short-run aggregate supply curve (SRAS) and aggregate demand curve (AD) for Country Beta before the increase in investment.

The increase in investment results in both short-run and long-run effects on the economy. On the diagram above, draw and label the two curves that illustrate these effects.

The following diagram illustrates the long-run aggregate supply curve (LRAS), short-run aggregate supply curve (SRAS) and aggregate demand curve (AD) for Country Beta before the increase in investment.

The increase in investment results in both short-run and long-run effects on the economy. On the diagram above, draw and label the two curves that illustrate these effects.

The following diagram illustrates the long-run aggregate supply curve (LRAS), short-run aggregate supply curve (SRAS) and aggregate demand curve (AD) for Country Beta before the increase in investment.

The increase in investment results in both short-run and long-run effects on the economy. On the diagram above, draw and label the two curves that illustrate these effects.

In Country Beta, investment by firms increases in the first quarter of 2019.

The following diagram illustrates the long-run aggregate supply curve (LRAS), short-run aggregate supply curve (SRAS) and aggregate demand curve (AD) for Country Beta before the increase in investment.

The increase in investment results in both short-run and long-run effects on the economy. On the diagram above, draw and label the two curves that illustrate these effects.

In Country Beta, investment by firms increases in the first quarter of 2019.

The following diagram illustrates the long-run aggregate supply curve (LRAS), short-run aggregate supply curve (SRAS) and aggregate demand curve (AD) for Country Beta before the increase in investment.

The increase in investment results in both short-run and long-run effects on the economy. On the diagram above, draw and label the two curves that illustrate these effects.

In Country Beta, investment by firms increases in the first quarter of 2019.

The following diagram illustrates the long-run aggregate supply curve (LRAS), short-run aggregate supply curve (SRAS) and aggregate demand curve (AD) for Country Beta before the increase in investment.

The increase in investment results in both short-run and long-run effects on the economy. On the diagram above, draw and label the two curves that illustrate these effects.

Calculate the maximum possible increase in gross domestic product (GDP) that could result from the rise in investment.

Calculate the maximum possible increase in gross domestic product (GDP) that could result from the rise in investment.

Calculate the maximum possible increase in gross domestic product (GDP) that could result from the rise in investment.

Country Delta is an open economy with a government sector. Investment rises by $2 billion in both Delta and Beta. Explain how the size of the multiplier and the resulting effect on gross domestic product (GDP) might be different in the two countries.

Country Delta is an open economy with a government sector. Investment rises by $2 billion in both Delta and Beta. Explain how the size of the multiplier and the resulting effect on gross domestic product (GDP) might be different in the two countries.

Country Delta is an open economy with a government sector. Investment rises by $2 billion in both Delta and Beta. Explain how the size of the multiplier and the resulting effect on gross domestic product (GDP) might be different in the two countries.

Calculate the value of V (exports of services) for Urbania in 2017.

Calculate the value of V (exports of services) for Urbania in 2017.

Calculate the value of V (exports of services) for Urbania in 2017.

Using the information in Table 5, calculate the financial account balance.

Using the information in Table 5, calculate the financial account balance.

Using the information in Table 5, calculate the financial account balance.

Using your answer to part (g)(i), calculate the value of W (reserve assets) in Table 5.

Using your answer to part (g)(i), calculate the value of W (reserve assets) in Table 5.

Using your answer to part (g)(i), calculate the value of W (reserve assets) in Table 5.

To what extent is advertising the most effective way of increasing the consumption of merit goods?

To what extent is advertising the most effective way of increasing the consumption of merit goods?

To what extent is advertising the most effective way of increasing the consumption of merit goods?

Discuss whether an oligopolistic firm should collude rather than compete.

Discuss whether an oligopolistic firm should collude rather than compete.

Discuss whether an oligopolistic firm should collude rather than compete.

Using the concept of the multiplier, explain how an increase in investment might affect aggregate demand.

Using the concept of the multiplier, explain how an increase in investment might affect aggregate demand.

Using the concept of the multiplier, explain how an increase in investment might affect aggregate demand.

Explain the potential effects on the economic growth rate from a substantial increase in the number of skilled people of working age entering a country.

Explain the potential effects on the economic growth rate from a substantial increase in the number of skilled people of working age entering a country.

Explain the potential effects on the economic growth rate from a substantial increase in the number of skilled people of working age entering a country.

Discuss the view that, apart from indicating economic growth rates over time, national income statistics are of little use.

Discuss the view that, apart from indicating economic growth rates over time, national income statistics are of little use.

Discuss the view that, apart from indicating economic growth rates over time, national income statistics are of little use.

Define the term current account indicated in bold in the text (paragraph [6]).

Define the term current account indicated in bold in the text (paragraph [6]).

Define the term current account indicated in bold in the text (paragraph [6]).

Using an exchange rate diagram, explain how “the need to import corn” will affect the value of the South African rand (paragraph [3]).

Using an exchange rate diagram, explain how “the need to import corn” will affect the value of the South African rand (paragraph [3]).

Using an exchange rate diagram, explain how “the need to import corn” will affect the value of the South African rand (paragraph [3]).

Using information from the text/data and your knowledge of economics, evaluate the economic impacts of trade protection in the South African corn market.

Using information from the text/data and your knowledge of economics, evaluate the economic impacts of trade protection in the South African corn market.

Using information from the text/data and your knowledge of economics, evaluate the economic impacts of trade protection in the South African corn market.

List two components of the Human Development Index (HDI) (paragraph [2]).

List two components of the Human Development Index (HDI) (paragraph [2]).

List two components of the Human Development Index (HDI) (paragraph [2]).

Using a production possibilities curve (PPC) diagram, explain the effect on economic growth of the “destruction of much of the country’s physical, social and human capital” (paragraph [1]).

Using a production possibilities curve (PPC) diagram, explain the effect on economic growth of the “destruction of much of the country’s physical, social and human capital” (paragraph [1]).

Using a production possibilities curve (PPC) diagram, explain the effect on economic growth of the “destruction of much of the country’s physical, social and human capital” (paragraph [1]).

Define the term monetary union indicated in bold in the text (paragraph [1]).

Define the term monetary union indicated in bold in the text (paragraph [1]).

Define the term monetary union indicated in bold in the text (paragraph [1]).

Using a cost diagram, explain how membership in the common market may allow producers in South Sudan to gain economies of scale (paragraph [6]).

Using a cost diagram, explain how membership in the common market may allow producers in South Sudan to gain economies of scale (paragraph [6]).

Using a cost diagram, explain how membership in the common market may allow producers in South Sudan to gain economies of scale (paragraph [6]).

Define the term social (community) surplus.

Define the term social (community) surplus.

Define the term social (community) surplus.

Draw and label the new supply curve following the granting of the subsidy to domestic cotton producers on Figure 3.

Draw and label the new supply curve following the granting of the subsidy to domestic cotton producers on Figure 3.

Draw and label the new supply curve following the granting of the subsidy to domestic cotton producers on Figure 3.

Calculate the resulting change in producer surplus following the introduction of the subsidy to cotton producers in San Marcus.

Calculate the resulting change in producer surplus following the introduction of the subsidy to cotton producers in San Marcus.

Calculate the resulting change in producer surplus following the introduction of the subsidy to cotton producers in San Marcus.

State two functions of the WTO.

State two functions of the WTO.

State two functions of the WTO.

Plot and label the world cotton supply curve that San Marcus now faces on Figure 3.

Plot and label the world cotton supply curve that San Marcus now faces on Figure 3.

Plot and label the world cotton supply curve that San Marcus now faces on Figure 3.

With reference to your answer to question (b)(ii), calculate the change in the cost of financing the $8 per kg subsidy to the government of San Marcus following the decision to import cotton from the world market.

With reference to your answer to question (b)(ii), calculate the change in the cost of financing the $8 per kg subsidy to the government of San Marcus following the decision to import cotton from the world market.

With reference to your answer to question (b)(ii), calculate the change in the cost of financing the $8 per kg subsidy to the government of San Marcus following the decision to import cotton from the world market.

Calculate the rate of consumer price inflation in 2016.

Calculate the rate of consumer price inflation in 2016.

Calculate the rate of consumer price inflation in 2016.

Using the GDP deflator, calculate the percentage change in real GDP between 2014 and 2015.

Using the GDP deflator, calculate the percentage change in real GDP between 2014 and 2015.

Using the GDP deflator, calculate the percentage change in real GDP between 2014 and 2015.

Identify the term represented in Figure 4 by the letter V.

Identify the term represented in Figure 4 by the letter V.

Identify the term represented in Figure 4 by the letter V.

State the four factor payments which constitute the income flow in the circular flow of income model.

State the four factor payments which constitute the income flow in the circular flow of income model.

State the four factor payments which constitute the income flow in the circular flow of income model.

Determine the size of the budget surplus/deficit and state which using Figure 4.

Determine the size of the budget surplus/deficit and state which using Figure 4.

Determine the size of the budget surplus/deficit and state which using Figure 4.

Draw and label the Lorenz curve diagram for Country A on Figure 5.

Draw and label the Lorenz curve diagram for Country A on Figure 5.

Draw and label the Lorenz curve diagram for Country A on Figure 5.

Explain why a government might decide to impose a price ceiling on goods and services such as essential foods or rented housing.

Explain why a government might decide to impose a price ceiling on goods and services such as essential foods or rented housing.

Explain why a government might decide to impose a price ceiling on goods and services such as essential foods or rented housing.

Explain how aggregate demand in an economy might be affected by a rise in the exchange rate and a decrease in the income of major trading partners.

Explain how aggregate demand in an economy might be affected by a rise in the exchange rate and a decrease in the income of major trading partners.

Explain how aggregate demand in an economy might be affected by a rise in the exchange rate and a decrease in the income of major trading partners.

Explain the role of improved productivity in achieving economic growth.

Explain the role of improved productivity in achieving economic growth.

Explain the role of improved productivity in achieving economic growth.

Evaluate the view that monopoly is an undesirable market structure as it fails to achieve productive and allocative efficiency.

Evaluate the view that monopoly is an undesirable market structure as it fails to achieve productive and allocative efficiency.

Evaluate the view that monopoly is an undesirable market structure as it fails to achieve productive and allocative efficiency.

Examine the significance of price elasticity of demand for the decision-making of firms and governments. 

Examine the significance of price elasticity of demand for the decision-making of firms and governments. 

Examine the significance of price elasticity of demand for the decision-making of firms and governments. 

Explain how a deflationary gap might occur.

Explain how a deflationary gap might occur.

Explain how a deflationary gap might occur.

Using the monetarist/new classical model and the Keynesian model, discuss the view that increases in aggregate demand will inevitably be inflationary.

Using the monetarist/new classical model and the Keynesian model, discuss the view that increases in aggregate demand will inevitably be inflationary.

Using the monetarist/new classical model and the Keynesian model, discuss the view that increases in aggregate demand will inevitably be inflationary.

Explain how government spending might promote greater equity in an economy.

Explain how government spending might promote greater equity in an economy.

Explain how government spending might promote greater equity in an economy.

Discuss the view that imposing an indirect tax on gasoline (petrol) is the most effective way of reducing the market failure caused by cars.

Discuss the view that imposing an indirect tax on gasoline (petrol) is the most effective way of reducing the market failure caused by cars.

Discuss the view that imposing an indirect tax on gasoline (petrol) is the most effective way of reducing the market failure caused by cars.

Explain how increased investment by the government in education and training can affect both aggregate demand and aggregate supply.

Explain how increased investment by the government in education and training can affect both aggregate demand and aggregate supply.

Explain how increased investment by the government in education and training can affect both aggregate demand and aggregate supply.

Evaluate the view that inflationary pressures in an economy are best reduced using supply-side policies.

Evaluate the view that inflationary pressures in an economy are best reduced using supply-side policies.

Evaluate the view that inflationary pressures in an economy are best reduced using supply-side policies.

Discuss the view that economies will always return to the full employment level of output in the long run.

Discuss the view that economies will always return to the full employment level of output in the long run.

Discuss the view that economies will always return to the full employment level of output in the long run.

Examine the role of barriers to entry in making monopoly a less desirable market structure than perfect competition.

Examine the role of barriers to entry in making monopoly a less desirable market structure than perfect competition.

Examine the role of barriers to entry in making monopoly a less desirable market structure than perfect competition.

Explain how an increase in unemployment might lead to a loss of gross domestic product (GDP) and a budget deficit.

Explain how an increase in unemployment might lead to a loss of gross domestic product (GDP) and a budget deficit.

Explain how an increase in unemployment might lead to a loss of gross domestic product (GDP) and a budget deficit.

Define the term structural unemployment indicated in bold in the text (paragraph [4]).

Define the term structural unemployment indicated in bold in the text (paragraph [4]).

Define the term structural unemployment indicated in bold in the text (paragraph [4]).

Using an international trade diagram, explain the effect of a tariff on the imports of tinplate steel (paragraph [1]).

Using an international trade diagram, explain the effect of a tariff on the imports of tinplate steel (paragraph [1]).

Using an international trade diagram, explain the effect of a tariff on the imports of tinplate steel (paragraph [1]).

Define the term real gross domestic product (GDP) indicated in bold in the text (paragraph [2]).

Define the term real gross domestic product (GDP) indicated in bold in the text (paragraph [2]).

Define the term real gross domestic product (GDP) indicated in bold in the text (paragraph [2]).

Using a production possibilities curve (PPC) diagram, explain how rising numbers of university graduates will affect Bhutan’s potential output (paragraph [5]).

Using a production possibilities curve (PPC) diagram, explain how rising numbers of university graduates will affect Bhutan’s potential output (paragraph [5]).

Using a production possibilities curve (PPC) diagram, explain how rising numbers of university graduates will affect Bhutan’s potential output (paragraph [5]).

Define the term absolute poverty indicated in bold in the text (paragraph [2]).

Define the term absolute poverty indicated in bold in the text (paragraph [2]).

Define the term absolute poverty indicated in bold in the text (paragraph [2]).

Explain two reasons why Chinese companies may have been attracted into Peru (paragraph [4]).

Explain two reasons why Chinese companies may have been attracted into Peru (paragraph [4]).

Explain two reasons why Chinese companies may have been attracted into Peru (paragraph [4]).

Using information from the text/data and your knowledge of economics, evaluate the factors that may allow Peru to continue to achieve high rates of economic growth in the future.

Using information from the text/data and your knowledge of economics, evaluate the factors that may allow Peru to continue to achieve high rates of economic growth in the future.

Using information from the text/data and your knowledge of economics, evaluate the factors that may allow Peru to continue to achieve high rates of economic growth in the future.

Define the term dumping indicated in bold in the text (paragraph [2]).

Define the term dumping indicated in bold in the text (paragraph [2]).

Define the term dumping indicated in bold in the text (paragraph [2]).

Using a tariff diagram, explain the effect of the “preliminary tariffs” on Canadian consumers of drywall (paragraph [3]).

Using a tariff diagram, explain the effect of the “preliminary tariffs” on Canadian consumers of drywall (paragraph [3]).

Using a tariff diagram, explain the effect of the “preliminary tariffs” on Canadian consumers of drywall (paragraph [3]).

Using information from the text/data and your knowledge of economics, evaluate the effect of the tariff on drywall on different stakeholders.

Using information from the text/data and your knowledge of economics, evaluate the effect of the tariff on drywall on different stakeholders.

Using information from the text/data and your knowledge of economics, evaluate the effect of the tariff on drywall on different stakeholders.

List two functions of the central bank (paragraph [2]).

List two functions of the central bank (paragraph [2]).

List two functions of the central bank (paragraph [2]).

Define the term fiscal policy indicated in bold in the text (paragraph [5]).

Define the term fiscal policy indicated in bold in the text (paragraph [5]).

Define the term fiscal policy indicated in bold in the text (paragraph [5]).

Explain the difference between a current account deficit and a budget deficit (paragraph [5]).

Explain the difference between a current account deficit and a budget deficit (paragraph [5]).

Explain the difference between a current account deficit and a budget deficit (paragraph [5]).

Using information from the text/data and your knowledge of economics, discuss the possible effects of Chinese involvement on economic growth and development in the Bolivian economy. 

Using information from the text/data and your knowledge of economics, discuss the possible effects of Chinese involvement on economic growth and development in the Bolivian economy. 

Using information from the text/data and your knowledge of economics, discuss the possible effects of Chinese involvement on economic growth and development in the Bolivian economy. 

Define the term investment indicated in bold in the text (paragraph [2]).

Define the term investment indicated in bold in the text (paragraph [2]).

Define the term investment indicated in bold in the text (paragraph [2]).

Define the term productivity indicated in bold in the text (paragraph [5]).

Define the term productivity indicated in bold in the text (paragraph [5]).

Define the term productivity indicated in bold in the text (paragraph [5]).

Using an AD/AS diagram, explain how expansionary monetary policy might lead to economic growth (paragraph [1]).

Using an AD/AS diagram, explain how expansionary monetary policy might lead to economic growth (paragraph [1]).

Using an AD/AS diagram, explain how expansionary monetary policy might lead to economic growth (paragraph [1]).

Explain the difference between economic growth and economic development (paragraph [7]).

Explain the difference between economic growth and economic development (paragraph [7]).

Explain the difference between economic growth and economic development (paragraph [7]).

Outline the reason why Country X should specialize in the production of apples and Country Y should specialize in the production of bananas.

Outline the reason why Country X should specialize in the production of apples and Country Y should specialize in the production of bananas.

Outline the reason why Country X should specialize in the production of apples and Country Y should specialize in the production of bananas.

Calculate the change in consumer surplus in Country Z as a result of the increase in demand for oranges.

Calculate the change in consumer surplus in Country Z as a result of the increase in demand for oranges.

Calculate the change in consumer surplus in Country Z as a result of the increase in demand for oranges.

State one administrative barrier that Country Z could use in order to restrict imports.

State one administrative barrier that Country Z could use in order to restrict imports.

State one administrative barrier that Country Z could use in order to restrict imports.

Calculate the quantity of EU€ she will receive for her US$300 000.

Calculate the quantity of EU€ she will receive for her US$300 000.

Calculate the quantity of EU€ she will receive for her US$300 000.

Calculate, in US$, the loss made by Tanya as a result of these transactions.

Calculate, in US$, the loss made by Tanya as a result of these transactions.

Calculate, in US$, the loss made by Tanya as a result of these transactions.

Calculate the unemployment rate in Fairland using Table 1.

Calculate the unemployment rate in Fairland using Table 1.

Calculate the unemployment rate in Fairland using Table 1.

Outline two difficulties in measuring unemployment.

Outline two difficulties in measuring unemployment.

Outline two difficulties in measuring unemployment.

Draw and label a curve that illustrates Fairland’s minimum wage on Figure 6.

Draw and label a curve that illustrates Fairland’s minimum wage on Figure 6.

Draw and label a curve that illustrates Fairland’s minimum wage on Figure 6.

Fred is a low-wage worker in Fairland. As a result of the minimum wage his income will increase from $15 000 per year to $19 000 per year.

Calculate how much additional income tax Fred will need to pay.

Fred is a low-wage worker in Fairland. As a result of the minimum wage his income will increase from $15 000 per year to $19 000 per year.

Calculate how much additional income tax Fred will need to pay.

Fred is a low-wage worker in Fairland. As a result of the minimum wage his income will increase from $15 000 per year to $19 000 per year.

Calculate how much additional income tax Fred will need to pay.

State two interventionist supply-side policies that are likely to increase the demand for low-wage labour in Fairland.

State two interventionist supply-side policies that are likely to increase the demand for low-wage labour in Fairland.

State two interventionist supply-side policies that are likely to increase the demand for low-wage labour in Fairland.

State two market-based supply-side policies that are likely to increase the supply of labour in Fairland.

State two market-based supply-side policies that are likely to increase the supply of labour in Fairland.

State two market-based supply-side policies that are likely to increase the supply of labour in Fairland.

Using your answer to part (i), calculate the increase in government spending necessary to increase nominal GDP by $100 billion.

Using your answer to part (i), calculate the increase in government spending necessary to increase nominal GDP by $100 billion.

Using your answer to part (i), calculate the increase in government spending necessary to increase nominal GDP by $100 billion.

Discuss the implications of the direct provision of public goods by a government.

Discuss the implications of the direct provision of public goods by a government.

Discuss the implications of the direct provision of public goods by a government.

Explain, using a production possibilities curve (PPC) diagram, an increase in the actual output of an economy.

Explain, using a production possibilities curve (PPC) diagram, an increase in the actual output of an economy.

Explain, using a production possibilities curve (PPC) diagram, an increase in the actual output of an economy.

Discuss the significance of price elasticity of demand (PED) for a government imposing an indirect tax on a good.

Discuss the significance of price elasticity of demand (PED) for a government imposing an indirect tax on a good.

Discuss the significance of price elasticity of demand (PED) for a government imposing an indirect tax on a good.

Explain the impact that a cut in taxation and an increase in government spending might have on the circular flow of income.

Explain the impact that a cut in taxation and an increase in government spending might have on the circular flow of income.

Explain the impact that a cut in taxation and an increase in government spending might have on the circular flow of income.

Explain the effect an increase in investment might have on real gross domestic product (GDP) using the Keynesian multiplier.

Explain the effect an increase in investment might have on real gross domestic product (GDP) using the Keynesian multiplier.

Explain the effect an increase in investment might have on real gross domestic product (GDP) using the Keynesian multiplier.

Discuss the view that interventionist supply-side policies are the most effective way for a government to achieve economic growth.

Discuss the view that interventionist supply-side policies are the most effective way for a government to achieve economic growth.

Discuss the view that interventionist supply-side policies are the most effective way for a government to achieve economic growth.

Define the term quota indicated in bold in the text (paragraph [4]).

Define the term quota indicated in bold in the text (paragraph [4]).

Define the term quota indicated in bold in the text (paragraph [4]).

Using an AD/AS diagram, explain the impact of the trade agreement between Japan and the EU (JEEPA) on Japan’s economic growth (paragraph [1]).

Using an AD/AS diagram, explain the impact of the trade agreement between Japan and the EU (JEEPA) on Japan’s economic growth (paragraph [1]).

Using an AD/AS diagram, explain the impact of the trade agreement between Japan and the EU (JEEPA) on Japan’s economic growth (paragraph [1]).

Using information from the text/data and your knowledge of economics, evaluate the possible consequences of the trade agreement between Japan and the EU (JEEPA).

Using information from the text/data and your knowledge of economics, evaluate the possible consequences of the trade agreement between Japan and the EU (JEEPA).

Using information from the text/data and your knowledge of economics, evaluate the possible consequences of the trade agreement between Japan and the EU (JEEPA).

Outline two roles of a country’s central bank (paragraph [1]).

Outline two roles of a country’s central bank (paragraph [1]).

Outline two roles of a country’s central bank (paragraph [1]).

Define the term current account deficit indicated in bold in the text (paragraph [4]).

Define the term current account deficit indicated in bold in the text (paragraph [4]).

Define the term current account deficit indicated in bold in the text (paragraph [4]).

Using an AD/AS diagram, explain the likely impact on the Canadian economy of the increase in the official interest rate (paragraph [1]).

Using an AD/AS diagram, explain the likely impact on the Canadian economy of the increase in the official interest rate (paragraph [1]).

Using an AD/AS diagram, explain the likely impact on the Canadian economy of the increase in the official interest rate (paragraph [1]).

Using an exchange rate diagram, explain one reason for the appreciation of the Canadian dollar (paragraph [3]).

Using an exchange rate diagram, explain one reason for the appreciation of the Canadian dollar (paragraph [3]).

Using an exchange rate diagram, explain one reason for the appreciation of the Canadian dollar (paragraph [3]).

Using information from the text/data and your knowledge of economics, discuss the possible effects on the Canadian economy of the strengthening of the Canadian dollar against the US dollar.

Using information from the text/data and your knowledge of economics, discuss the possible effects on the Canadian economy of the strengthening of the Canadian dollar against the US dollar.

Using information from the text/data and your knowledge of economics, discuss the possible effects on the Canadian economy of the strengthening of the Canadian dollar against the US dollar.

Define the term depreciation indicated in bold in the text (paragraph [3]).

Define the term depreciation indicated in bold in the text (paragraph [3]).

Define the term depreciation indicated in bold in the text (paragraph [3]).

Using an AD/AS diagram, explain how Turkey’s reliance on energy imports is putting “further pressure on inflation” (paragraph [4]).

Using an AD/AS diagram, explain how Turkey’s reliance on energy imports is putting “further pressure on inflation” (paragraph [4]).

Using an AD/AS diagram, explain how Turkey’s reliance on energy imports is putting “further pressure on inflation” (paragraph [4]).

Using information from the text/data and your knowledge of economics, discuss the implications of Turkey’s persistent current account deficit.

Using information from the text/data and your knowledge of economics, discuss the implications of Turkey’s persistent current account deficit.

Using information from the text/data and your knowledge of economics, discuss the implications of Turkey’s persistent current account deficit.

State the reason for the difference between Ghana’s GNI per capita and its GDP per capita (Table 1).

State the reason for the difference between Ghana’s GNI per capita and its GDP per capita (Table 1).

State the reason for the difference between Ghana’s GNI per capita and its GDP per capita (Table 1).

Define the term economic growth indicated in bold in the text (paragraph [2]).

Define the term economic growth indicated in bold in the text (paragraph [2]).

Define the term economic growth indicated in bold in the text (paragraph [2]).

Using a demand and supply diagram, explain why the increase in the minimum wage might affect Cambodia’s garment manufacturing competitiveness against other countries in the region (paragraph [4]).

Using a demand and supply diagram, explain why the increase in the minimum wage might affect Cambodia’s garment manufacturing competitiveness against other countries in the region (paragraph [4]).

Using a demand and supply diagram, explain why the increase in the minimum wage might affect Cambodia’s garment manufacturing competitiveness against other countries in the region (paragraph [4]).

Using information from the text/data and your knowledge of economics, evaluate export promotion as a strategy for achieving economic development in Cambodia.

Using information from the text/data and your knowledge of economics, evaluate export promotion as a strategy for achieving economic development in Cambodia.

Using information from the text/data and your knowledge of economics, evaluate export promotion as a strategy for achieving economic development in Cambodia.

Calculate the inflation rate for 2014 and for 2015. Enter your results in Table 1.

Calculate the inflation rate for 2014 and for 2015. Enter your results in Table 1.

Calculate the inflation rate for 2014 and for 2015. Enter your results in Table 1.

Calculate the unemployment rate for 2012 and for 2013. Enter your results in Table 1.

Calculate the unemployment rate for 2012 and for 2013. Enter your results in Table 1.

Calculate the unemployment rate for 2012 and for 2013. Enter your results in Table 1.

Explain two reasons why low and stable inflation is desirable.

Explain two reasons why low and stable inflation is desirable.

Explain two reasons why low and stable inflation is desirable.

Using the data in Table 1 to support your answer, identify two reasons why many economists would consider Country A’s economy to be performing poorly in 2012.

Using the data in Table 1 to support your answer, identify two reasons why many economists would consider Country A’s economy to be performing poorly in 2012.

Using the data in Table 1 to support your answer, identify two reasons why many economists would consider Country A’s economy to be performing poorly in 2012.

State one reason why monetary policy is considered to have limited effectiveness in increasing aggregate demand if an economy is in a deep recession.

State one reason why monetary policy is considered to have limited effectiveness in increasing aggregate demand if an economy is in a deep recession.

State one reason why monetary policy is considered to have limited effectiveness in increasing aggregate demand if an economy is in a deep recession.

Using the information in Table 2 for Country B calculate nominal GDP in 2014. Enter your result in Table 2.

Using the information in Table 2 for Country B calculate nominal GDP in 2014. Enter your result in Table 2.

Using the information in Table 2 for Country B calculate nominal GDP in 2014. Enter your result in Table 2.

Using the information in Table 2 for Country B, determine real GDP in 2014 and in 2015. Enter your results in Table 2.

Using the information in Table 2 for Country B, determine real GDP in 2014 and in 2015. Enter your results in Table 2.

Using the information in Table 2 for Country B, determine real GDP in 2014 and in 2015. Enter your results in Table 2.

Using the information in Table 2 for Country B, calculate the rate of economic growth between 2014 and 2015.

Using the information in Table 2 for Country B, calculate the rate of economic growth between 2014 and 2015.

Using the information in Table 2 for Country B, calculate the rate of economic growth between 2014 and 2015.

If a visitor to Gardia from the US buys a towel that costs 23 gamma, calculate the cost in US$.

If a visitor to Gardia from the US buys a towel that costs 23 gamma, calculate the cost in US$.

If a visitor to Gardia from the US buys a towel that costs 23 gamma, calculate the cost in US$.

State two factors that could cause Gardia’s current account to be in deficit, even though its balance of trade in goods is in surplus.

State two factors that could cause Gardia’s current account to be in deficit, even though its balance of trade in goods is in surplus.

State two factors that could cause Gardia’s current account to be in deficit, even though its balance of trade in goods is in surplus.

Determine the size of Gardia’s current account surplus/deficit when the sum of the financial and capital accounts is US$ 2 billion.

Determine the size of Gardia’s current account surplus/deficit when the sum of the financial and capital accounts is US$ 2 billion.

Determine the size of Gardia’s current account surplus/deficit when the sum of the financial and capital accounts is US$ 2 billion.

Gardia is aiming to increase its economic growth rate. Explain two sources of economic growth for economically less developed countries.

Gardia is aiming to increase its economic growth rate. Explain two sources of economic growth for economically less developed countries.

Gardia is aiming to increase its economic growth rate. Explain two sources of economic growth for economically less developed countries.

Calculate the equilibrium exchange rate for the US$ in terms of the gamma.

Calculate the equilibrium exchange rate for the US$ in terms of the gamma.

Calculate the equilibrium exchange rate for the US$ in terms of the gamma.

Plot and label the new supply curve on Figure 2.

Plot and label the new supply curve on Figure 2.

Plot and label the new supply curve on Figure 2.

Gardia’s investment (in plant and equipment) increased by 11 million gamma in the last month. In the same month, its government spending decreased by 8 million gamma. It has been estimated that the marginal propensity to consume (MPC) on domestic goods and services in Gardia is 0.75.

Calculate the maximum possible increase in real gross domestic product (GDP) in Gardia that could result from the changes in investment and government spending.

Gardia’s investment (in plant and equipment) increased by 11 million gamma in the last month. In the same month, its government spending decreased by 8 million gamma. It has been estimated that the marginal propensity to consume (MPC) on domestic goods and services in Gardia is 0.75.

Calculate the maximum possible increase in real gross domestic product (GDP) in Gardia that could result from the changes in investment and government spending.

Gardia’s investment (in plant and equipment) increased by 11 million gamma in the last month. In the same month, its government spending decreased by 8 million gamma. It has been estimated that the marginal propensity to consume (MPC) on domestic goods and services in Gardia is 0.75.

Calculate the maximum possible increase in real gross domestic product (GDP) in Gardia that could result from the changes in investment and government spending.

Calculate the economic profit/loss when Firm A is producing at the output level identified in part (b)(i).

Calculate the economic profit/loss when Firm A is producing at the output level identified in part (b)(i).

Calculate the economic profit/loss when Firm A is producing at the output level identified in part (b)(i).

Based on the information in Figure 2, state whether the firms in this market are making normal profits, economic profits or economic losses.

Based on the information in Figure 2, state whether the firms in this market are making normal profits, economic profits or economic losses.

Based on the information in Figure 2, state whether the firms in this market are making normal profits, economic profits or economic losses.

On Figure 2, draw and label appropriate additional curves to show how a perfectly competitive market will move from short-run equilibrium to long-run equilibrium.

On Figure 2, draw and label appropriate additional curves to show how a perfectly competitive market will move from short-run equilibrium to long-run equilibrium.

On Figure 2, draw and label appropriate additional curves to show how a perfectly competitive market will move from short-run equilibrium to long-run equilibrium.

State two assumed characteristics of a monopoly.

State two assumed characteristics of a monopoly.

State two assumed characteristics of a monopoly.

Explain two reasons why a monopoly may be considered desirable for an economy.

Explain two reasons why a monopoly may be considered desirable for an economy.

Explain two reasons why a monopoly may be considered desirable for an economy.

Using Figure 3, calculate the total revenue when Firm B is maximizing its revenue.

Using Figure 3, calculate the total revenue when Firm B is maximizing its revenue.

Using Figure 3, calculate the total revenue when Firm B is maximizing its revenue.

Sketch and label a diagram to illustrate the long-run equilibrium for a firm in monopolistic competition.

Sketch and label a diagram to illustrate the long-run equilibrium for a firm in monopolistic competition.

Sketch and label a diagram to illustrate the long-run equilibrium for a firm in monopolistic competition.

Calculate the cost of the typical basket in 2016.

Calculate the cost of the typical basket in 2016.

Calculate the cost of the typical basket in 2016.

The consumer price index for 2014 was 101.23. Calculate the rate of inflation between 2014 and 2015 (the base year).

The consumer price index for 2014 was 101.23. Calculate the rate of inflation between 2014 and 2015 (the base year).

The consumer price index for 2014 was 101.23. Calculate the rate of inflation between 2014 and 2015 (the base year).

In 2019, nominal GDP was $102 874.55 million. Using data from Table 2, identify whether Country A experienced inflation or deflation or disinflation in 2019.

In 2019, nominal GDP was $102 874.55 million. Using data from Table 2, identify whether Country A experienced inflation or deflation or disinflation in 2019.

In 2019, nominal GDP was $102 874.55 million. Using data from Table 2, identify whether Country A experienced inflation or deflation or disinflation in 2019.

Using data from Table 2, state the reason why there is a difference between the real GDP growth rate and the real GDP per capita growth rate between 2015 and 2019.

Using data from Table 2, state the reason why there is a difference between the real GDP growth rate and the real GDP per capita growth rate between 2015 and 2019.

Using data from Table 2, state the reason why there is a difference between the real GDP growth rate and the real GDP per capita growth rate between 2015 and 2019.

An economist forecasts that the real GDP growth rate in 2020 will be 3.41 %. Using the data in Table 2, calculate the forecast for real GDP ($ million) in 2020.

An economist forecasts that the real GDP growth rate in 2020 will be 3.41 %. Using the data in Table 2, calculate the forecast for real GDP ($ million) in 2020.

An economist forecasts that the real GDP growth rate in 2020 will be 3.41 %. Using the data in Table 2, calculate the forecast for real GDP ($ million) in 2020.

Calculate the estimated value of the multiplier used by the economist.

Calculate the estimated value of the multiplier used by the economist.

Calculate the estimated value of the multiplier used by the economist.

Plot and label the production possibility curves for Country J and for Country H, assuming constant opportunity costs, on Figure 4.

Plot and label the production possibility curves for Country J and for Country H, assuming constant opportunity costs, on Figure 4.

Plot and label the production possibility curves for Country J and for Country H, assuming constant opportunity costs, on Figure 4.

Calculate the value of the Mexican peso (US$ per MX$) in 2015. Enter your result in Table 3.

Calculate the value of the Mexican peso (US$ per MX$) in 2015. Enter your result in Table 3.

Calculate the value of the Mexican peso (US$ per MX$) in 2015. Enter your result in Table 3.

Using Table 3, state one possible effect on Mexican consumers and one possible effect on Mexican producers from the change in the value of the Mexican peso (US$ per MX$) between 2014 and 2016.

Using Table 3, state one possible effect on Mexican consumers and one possible effect on Mexican producers from the change in the value of the Mexican peso (US$ per MX$) between 2014 and 2016.

Using Table 3, state one possible effect on Mexican consumers and one possible effect on Mexican producers from the change in the value of the Mexican peso (US$ per MX$) between 2014 and 2016.

Using information from Figure 5, sketch an exchange rate diagram to show how the change in Mexico’s spending on imports in 2010 would have affected its exchange rate (US$ per MX$), ceteris paribus.

Using information from Figure 5, sketch an exchange rate diagram to show how the change in Mexico’s spending on imports in 2010 would have affected its exchange rate (US$ per MX$), ceteris paribus.

Using information from Figure 5, sketch an exchange rate diagram to show how the change in Mexico’s spending on imports in 2010 would have affected its exchange rate (US$ per MX$), ceteris paribus.

Using Figure 6, calculate the consumer surplus and the producer surplus when Country B engages in free trade.

Using Figure 6, calculate the consumer surplus and the producer surplus when Country B engages in free trade.

Using Figure 6, calculate the consumer surplus and the producer surplus when Country B engages in free trade.

Using Figure 7, identify the equilibrium quantity being consumed following the imposition of the tariff.

Using Figure 7, identify the equilibrium quantity being consumed following the imposition of the tariff.

Using Figure 7, identify the equilibrium quantity being consumed following the imposition of the tariff.

Using Figure 7, calculate the change in consumer surplus as a result of Country B imposing the tariff.

Using Figure 7, calculate the change in consumer surplus as a result of Country B imposing the tariff.

Using Figure 7, calculate the change in consumer surplus as a result of Country B imposing the tariff.

Discuss the consequences for different stakeholders when the government imposes a price ceiling on a market.

Discuss the consequences for different stakeholders when the government imposes a price ceiling on a market.

Discuss the consequences for different stakeholders when the government imposes a price ceiling on a market.

Discuss how governments restrict monopoly power.

Discuss how governments restrict monopoly power.

Discuss how governments restrict monopoly power.

Explain why there is a possible trade-off between the unemployment rate and the inflation rate in the short run.

Explain why there is a possible trade-off between the unemployment rate and the inflation rate in the short run.

Explain why there is a possible trade-off between the unemployment rate and the inflation rate in the short run.

Discuss the view that the redistribution of income is the most important impact that inflation has on an economy.

Discuss the view that the redistribution of income is the most important impact that inflation has on an economy.

Discuss the view that the redistribution of income is the most important impact that inflation has on an economy.

Explain why measuring unemployment in a country is difficult. 

Explain why measuring unemployment in a country is difficult. 

Explain why measuring unemployment in a country is difficult. 

Discuss whether the most important consequence of unemployment is a loss of income for individuals.

Discuss whether the most important consequence of unemployment is a loss of income for individuals.

Discuss whether the most important consequence of unemployment is a loss of income for individuals.

Define the term gross domestic product (GDP) indicated in bold in the text (paragraph [3]). 

Define the term gross domestic product (GDP) indicated in bold in the text (paragraph [3]). 

Define the term gross domestic product (GDP) indicated in bold in the text (paragraph [3]). 

Using an exchange rate diagram, explain how raising interest rates would “stop the fall in the peso’s value” (paragraph [4]).

Using an exchange rate diagram, explain how raising interest rates would “stop the fall in the peso’s value” (paragraph [4]).

Using an exchange rate diagram, explain how raising interest rates would “stop the fall in the peso’s value” (paragraph [4]).

Define the term tariff indicated in bold in the text (paragraph [2]).

Define the term tariff indicated in bold in the text (paragraph [2]).

Define the term tariff indicated in bold in the text (paragraph [2]).

Using an international trade diagram, explain the outcome on US producers of the introduction of a tariff on imports from China (paragraph [2]).

Using an international trade diagram, explain the outcome on US producers of the introduction of a tariff on imports from China (paragraph [2]).

Using an international trade diagram, explain the outcome on US producers of the introduction of a tariff on imports from China (paragraph [2]).

Using an AD/AS diagram, explain the desired impact of China’s “eased monetary policy” on its economic growth (paragraph [5]).

Using an AD/AS diagram, explain the desired impact of China’s “eased monetary policy” on its economic growth (paragraph [5]).

Using an AD/AS diagram, explain the desired impact of China’s “eased monetary policy” on its economic growth (paragraph [5]).

Using a poverty cycle diagram, explain how the government of Pakistan could intervene to “break out of the poverty cycle” (paragraph [3]).

Using a poverty cycle diagram, explain how the government of Pakistan could intervene to “break out of the poverty cycle” (paragraph [3]).

Using a poverty cycle diagram, explain how the government of Pakistan could intervene to “break out of the poverty cycle” (paragraph [3]).

Using an externalities diagram, explain how “greater access to education” for girls in Pakistan could reduce market failure (paragraph [5]).

Using an externalities diagram, explain how “greater access to education” for girls in Pakistan could reduce market failure (paragraph [5]).

Using an externalities diagram, explain how “greater access to education” for girls in Pakistan could reduce market failure (paragraph [5]).

State two functions of the World Trade Organization (WTO) (paragraph [1]).

State two functions of the World Trade Organization (WTO) (paragraph [1]).

State two functions of the World Trade Organization (WTO) (paragraph [1]).

Using a Lorenz curve diagram, explain the possible impact on the distribution of income in the Philippines when “the income tax for the highest income earners has been raised from 30 % to 35 %” (paragraph [4]).

Using a Lorenz curve diagram, explain the possible impact on the distribution of income in the Philippines when “the income tax for the highest income earners has been raised from 30 % to 35 %” (paragraph [4]).

Using a Lorenz curve diagram, explain the possible impact on the distribution of income in the Philippines when “the income tax for the highest income earners has been raised from 30 % to 35 %” (paragraph [4]).

Using information from the text/data and your knowledge of economics, evaluate the use of export promotion as a means of achieving economic development in the Philippines.

Using information from the text/data and your knowledge of economics, evaluate the use of export promotion as a means of achieving economic development in the Philippines.

Using information from the text/data and your knowledge of economics, evaluate the use of export promotion as a means of achieving economic development in the Philippines.

Define the term interest rate indicated in bold in the text (paragraph [2]).

Define the term interest rate indicated in bold in the text (paragraph [2]).

Define the term interest rate indicated in bold in the text (paragraph [2]).

List two components of the financial account (paragraph [4]).

List two components of the financial account (paragraph [4]).

List two components of the financial account (paragraph [4]).

Using an AD/AS diagram, explain how the use of fiscal policy could lower “the high rates of youth unemployment” in South Korea (paragraph [5]).

Using an AD/AS diagram, explain how the use of fiscal policy could lower “the high rates of youth unemployment” in South Korea (paragraph [5]).

Using an AD/AS diagram, explain how the use of fiscal policy could lower “the high rates of youth unemployment” in South Korea (paragraph [5]).

Using information from the text/data and your knowledge of economics, discuss the possible implications on South Korea’s economy of a current account surplus.

Using information from the text/data and your knowledge of economics, discuss the possible implications on South Korea’s economy of a current account surplus.

Using information from the text/data and your knowledge of economics, discuss the possible implications on South Korea’s economy of a current account surplus.

Define the term free trade area indicated in bold in the text (paragraph [1]).

Define the term free trade area indicated in bold in the text (paragraph [1]).

Define the term free trade area indicated in bold in the text (paragraph [1]).

Using price elasticity of demand (PED) data from the text and the J-curve effect, explain the most likely impact of “the falling value of the Australian dollar” on Australia’s current account (paragraph [4]).

Using price elasticity of demand (PED) data from the text and the J-curve effect, explain the most likely impact of “the falling value of the Australian dollar” on Australia’s current account (paragraph [4]).

Using price elasticity of demand (PED) data from the text and the J-curve effect, explain the most likely impact of “the falling value of the Australian dollar” on Australia’s current account (paragraph [4]).

Using an international trade diagram, explain how “increased quotas for the export of rice to Japan” will affect the price of rice in Japan (paragraph [2]).

Using an international trade diagram, explain how “increased quotas for the export of rice to Japan” will affect the price of rice in Japan (paragraph [2]).

Using an international trade diagram, explain how “increased quotas for the export of rice to Japan” will affect the price of rice in Japan (paragraph [2]).

Define the term relative poverty indicated in bold in the text (paragraph [2]).

Define the term relative poverty indicated in bold in the text (paragraph [2]).

Define the term relative poverty indicated in bold in the text (paragraph [2]).

Define the term economies of scale indicated in bold in the text (paragraph [3]).

Define the term economies of scale indicated in bold in the text (paragraph [3]).

Define the term economies of scale indicated in bold in the text (paragraph [3]).

Define the term absolute advantage indicated in bold in the text (paragraph [3]).

Define the term absolute advantage indicated in bold in the text (paragraph [3]).

Define the term absolute advantage indicated in bold in the text (paragraph [3]).

Using a production possibility curve (PPC) diagram, explain how damage to Fiji’s infrastructure has affected its production possibilities (paragraph [1]).

Using a production possibility curve (PPC) diagram, explain how damage to Fiji’s infrastructure has affected its production possibilities (paragraph [1]).

Using a production possibility curve (PPC) diagram, explain how damage to Fiji’s infrastructure has affected its production possibilities (paragraph [1]).

Explain two reasons why a government might impose indirect taxes.

Explain two reasons why a government might impose indirect taxes.

Explain two reasons why a government might impose indirect taxes.

Explain how the size of the circular flow of income in an economy is likely to be affected by a decrease in the rate of interest.

Explain how the size of the circular flow of income in an economy is likely to be affected by a decrease in the rate of interest.

Explain how the size of the circular flow of income in an economy is likely to be affected by a decrease in the rate of interest.

Evaluate the effectiveness of fiscal policy as a means of achieving long-term economic growth.

Evaluate the effectiveness of fiscal policy as a means of achieving long-term economic growth.

Evaluate the effectiveness of fiscal policy as a means of achieving long-term economic growth.

Explain how aggregate demand is likely to be affected by an increase in the wealth of consumers and an increase in business confidence.

Explain how aggregate demand is likely to be affected by an increase in the wealth of consumers and an increase in business confidence.

Explain how aggregate demand is likely to be affected by an increase in the wealth of consumers and an increase in business confidence.

Explain why a monopolistically competitive firm can make economic (abnormal) profit in the short run, but not in the long run.

Explain why a monopolistically competitive firm can make economic (abnormal) profit in the short run, but not in the long run.

Explain why a monopolistically competitive firm can make economic (abnormal) profit in the short run, but not in the long run.

Explain two causes of demand-pull inflation.

Explain two causes of demand-pull inflation.

Explain two causes of demand-pull inflation.

Evaluate the effectiveness of interventionist supply-side policies in reducing demand-pull inflation.

Evaluate the effectiveness of interventionist supply-side policies in reducing demand-pull inflation.

Evaluate the effectiveness of interventionist supply-side policies in reducing demand-pull inflation.

Discuss the consequences of different types of unemployment.

Discuss the consequences of different types of unemployment.

Discuss the consequences of different types of unemployment.

Discuss the view that tradable permits are more effective than taxes in reducing pollution.

Discuss the view that tradable permits are more effective than taxes in reducing pollution.

Discuss the view that tradable permits are more effective than taxes in reducing pollution.

Explain why cyclical (demand-deficient) unemployment may occur in an economy.

Explain why cyclical (demand-deficient) unemployment may occur in an economy.

Explain why cyclical (demand-deficient) unemployment may occur in an economy.

Evaluate the effectiveness of interventionist supply-side policies in reducing the level of unemployment in an economy.

Evaluate the effectiveness of interventionist supply-side policies in reducing the level of unemployment in an economy.

Evaluate the effectiveness of interventionist supply-side policies in reducing the level of unemployment in an economy.

Explain how expansionary monetary policy could be used to close a deflationary (recessionary) gap.

Explain how expansionary monetary policy could be used to close a deflationary (recessionary) gap.

Explain how expansionary monetary policy could be used to close a deflationary (recessionary) gap.

Explain why governments provide subsidies.

Explain why governments provide subsidies.

Explain why governments provide subsidies.

Explain the causes of cost-push inflation.

Explain the causes of cost-push inflation.

Explain the causes of cost-push inflation.

Explain how the Lorenz curve and the Gini coefficient are used to measure differences in income inequality between countries.

Explain how the Lorenz curve and the Gini coefficient are used to measure differences in income inequality between countries.

Explain how the Lorenz curve and the Gini coefficient are used to measure differences in income inequality between countries.

Discuss the view that taxation is the most effective means of achieving equity in the distribution of income.

Discuss the view that taxation is the most effective means of achieving equity in the distribution of income.

Discuss the view that taxation is the most effective means of achieving equity in the distribution of income.

Define the term trade war indicated in bold in the text (paragraph [1])

Define the term trade war indicated in bold in the text (paragraph [1])

Define the term trade war indicated in bold in the text (paragraph [1])

Using an international trade diagram, explain how US tariffs could affect the export of Chinese steel and aluminium to the US (paragraph [2]).

Using an international trade diagram, explain how US tariffs could affect the export of Chinese steel and aluminium to the US (paragraph [2]).

Using an international trade diagram, explain how US tariffs could affect the export of Chinese steel and aluminium to the US (paragraph [2]).

Using a demand and supply diagram, explain how reduced tariffs on “imported factors of production” would affect the price of Chinese goods (paragraph [7]).

Using a demand and supply diagram, explain how reduced tariffs on “imported factors of production” would affect the price of Chinese goods (paragraph [7]).

Using a demand and supply diagram, explain how reduced tariffs on “imported factors of production” would affect the price of Chinese goods (paragraph [7]).

Define the term current account indicated in bold in the text (paragraph [1]).

Define the term current account indicated in bold in the text (paragraph [1]).

Define the term current account indicated in bold in the text (paragraph [1]).

Using an AD/AS diagram, explain how an increase in oil prices “could worsen inflationary pressures” (paragraph [4]).

Using an AD/AS diagram, explain how an increase in oil prices “could worsen inflationary pressures” (paragraph [4]).

Using an AD/AS diagram, explain how an increase in oil prices “could worsen inflationary pressures” (paragraph [4]).

Using an exchange rate diagram, explain how higher interest rates could “protect the rupee from further depreciation” (paragraph [5]).

Using an exchange rate diagram, explain how higher interest rates could “protect the rupee from further depreciation” (paragraph [5]).

Using an exchange rate diagram, explain how higher interest rates could “protect the rupee from further depreciation” (paragraph [5]).

Using information from the text/data and your knowledge of economics, discuss the possible economic consequences on the Indian economy of a depreciating rupee.

Using information from the text/data and your knowledge of economics, discuss the possible economic consequences on the Indian economy of a depreciating rupee.

Using information from the text/data and your knowledge of economics, discuss the possible economic consequences on the Indian economy of a depreciating rupee.

Define the term privatization indicated in bold in the text (paragraph [2]).

Define the term privatization indicated in bold in the text (paragraph [2]).

Define the term privatization indicated in bold in the text (paragraph [2]).

Using a Lorenz curve diagram, explain the likely impact on income distribution of “plans to encourage investment in rural areas”  (paragraph [5]).

Using a Lorenz curve diagram, explain the likely impact on income distribution of “plans to encourage investment in rural areas”  (paragraph [5]).

Using a Lorenz curve diagram, explain the likely impact on income distribution of “plans to encourage investment in rural areas”  (paragraph [5]).

Define the term poverty trap indicated in bold in the text (paragraph [4]).

Define the term poverty trap indicated in bold in the text (paragraph [4]).

Define the term poverty trap indicated in bold in the text (paragraph [4]).

Using an AD/AS diagram, explain how the construction of the China–Laos railway will contribute to economic growth in Laos (paragraph [1]).

Using an AD/AS diagram, explain how the construction of the China–Laos railway will contribute to economic growth in Laos (paragraph [1]).

Using an AD/AS diagram, explain how the construction of the China–Laos railway will contribute to economic growth in Laos (paragraph [1]).

Using an externalities diagram, explain why the construction of dams on the Mekong River might lead to market failure (paragraph [2]).

Using an externalities diagram, explain why the construction of dams on the Mekong River might lead to market failure (paragraph [2]).

Using an externalities diagram, explain why the construction of dams on the Mekong River might lead to market failure (paragraph [2]).

Using information from the text/data and your knowledge of economics, evaluate the role of foreign direct investment in promoting economic development in Laos.

Using information from the text/data and your knowledge of economics, evaluate the role of foreign direct investment in promoting economic development in Laos.

Using information from the text/data and your knowledge of economics, evaluate the role of foreign direct investment in promoting economic development in Laos.

State two functions of the World Trade Organization (WTO) (paragraph [1]).

State two functions of the World Trade Organization (WTO) (paragraph [1]).

State two functions of the World Trade Organization (WTO) (paragraph [1]).

Using an AD/AS diagram, explain how removing “the import quota will reduce the inflation rate in the Philippines” (paragraph [5]).

Using an AD/AS diagram, explain how removing “the import quota will reduce the inflation rate in the Philippines” (paragraph [5]).

Using an AD/AS diagram, explain how removing “the import quota will reduce the inflation rate in the Philippines” (paragraph [5]).

Using information from the text/data and your knowledge of economics, evaluate the impact on the economy in the Philippines of removing the rice quota.

Using information from the text/data and your knowledge of economics, evaluate the impact on the economy in the Philippines of removing the rice quota.

Using information from the text/data and your knowledge of economics, evaluate the impact on the economy in the Philippines of removing the rice quota.

Define the term fixed exchange rate indicated in bold in the text (paragraph [1]).

Define the term fixed exchange rate indicated in bold in the text (paragraph [1]).

Define the term fixed exchange rate indicated in bold in the text (paragraph [1]).

Define the term monetary policy indicated in bold in the text (paragraph [2]).

Define the term monetary policy indicated in bold in the text (paragraph [2]).

Define the term monetary policy indicated in bold in the text (paragraph [2]).

Using an AD/AS diagram, explain how “increasing China’s interest rate” could affect its economic growth (paragraph [5]).

Using an AD/AS diagram, explain how “increasing China’s interest rate” could affect its economic growth (paragraph [5]).

Using an AD/AS diagram, explain how “increasing China’s interest rate” could affect its economic growth (paragraph [5]).

Using information from the text/data and your knowledge of economics, discuss the view that a depreciating currency is good for the Chinese economy.

Using information from the text/data and your knowledge of economics, discuss the view that a depreciating currency is good for the Chinese economy.

Using information from the text/data and your knowledge of economics, discuss the view that a depreciating currency is good for the Chinese economy.

List two components of the Human Development Index (HDI) (paragraph [1]).

List two components of the Human Development Index (HDI) (paragraph [1]).

List two components of the Human Development Index (HDI) (paragraph [1]).

Using a production possibilities curve (PPC) diagram, explain how the production possibilities (potential output) of the DRC might be affected if there were greater access to electricity (paragraph [4]).

Using a production possibilities curve (PPC) diagram, explain how the production possibilities (potential output) of the DRC might be affected if there were greater access to electricity (paragraph [4]).

Using a production possibilities curve (PPC) diagram, explain how the production possibilities (potential output) of the DRC might be affected if there were greater access to electricity (paragraph [4]).

Define the term absolute poverty indicated in bold in the text (paragraph [2]).

Define the term absolute poverty indicated in bold in the text (paragraph [2]).

Define the term absolute poverty indicated in bold in the text (paragraph [2]).

With reference to the data in Table 2, explain why the GNI per capita for Guatemala is lower than its GDP per capita.

With reference to the data in Table 2, explain why the GNI per capita for Guatemala is lower than its GDP per capita.

With reference to the data in Table 2, explain why the GNI per capita for Guatemala is lower than its GDP per capita.

Assuming that 25 000 pencils are produced initially, identify the opportunity cost for Country H if the production of rice is to be increased by 100 %.

Assuming that 25 000 pencils are produced initially, identify the opportunity cost for Country H if the production of rice is to be increased by 100 %.

Assuming that 25 000 pencils are produced initially, identify the opportunity cost for Country H if the production of rice is to be increased by 100 %.

State one reason why the production possibility curve (frontier) for Country H might shift outwards.

State one reason why the production possibility curve (frontier) for Country H might shift outwards.

State one reason why the production possibility curve (frontier) for Country H might shift outwards.

Calculate the shortage resulting from the imposition of the maximum price.

Calculate the shortage resulting from the imposition of the maximum price.

Calculate the shortage resulting from the imposition of the maximum price.

Calculate the change in consumer expenditure on rice resulting from the imposition of the maximum price.

Calculate the change in consumer expenditure on rice resulting from the imposition of the maximum price.

Calculate the change in consumer expenditure on rice resulting from the imposition of the maximum price.

Calculate Averna’s nominal gross domestic product (GDP) in 2019.

Calculate Averna’s nominal gross domestic product (GDP) in 2019.

Calculate Averna’s nominal gross domestic product (GDP) in 2019.

Explain two reasons why an increase in real GDP per capita may not lead to an improvement in living standards.

Explain two reasons why an increase in real GDP per capita may not lead to an improvement in living standards.

Explain two reasons why an increase in real GDP per capita may not lead to an improvement in living standards.

Table 3 provides information relating to the labour market in the country of Buranda.

Table 3

Calculate the unemployment rate in Buranda.

Table 3 provides information relating to the labour market in the country of Buranda.

Table 3

Calculate the unemployment rate in Buranda.

Table 3 provides information relating to the labour market in the country of Buranda.

Table 3

Calculate the unemployment rate in Buranda.

Evaluate the view that fiscal policy is the best way to reduce unemployment.

Evaluate the view that fiscal policy is the best way to reduce unemployment.

Evaluate the view that fiscal policy is the best way to reduce unemployment.

Evaluate the view that progressive income tax is the best way to increase equity in an economy.

Evaluate the view that progressive income tax is the best way to increase equity in an economy.

Evaluate the view that progressive income tax is the best way to increase equity in an economy.

Explain how rising commodity prices and wages might lead to cost-push inflation.

Explain how rising commodity prices and wages might lead to cost-push inflation.

Explain how rising commodity prices and wages might lead to cost-push inflation.

Discuss the possible consequences of deflation for an economy.

Discuss the possible consequences of deflation for an economy.

Discuss the possible consequences of deflation for an economy.

Explain how a better trained and educated labour force might affect economic growth.

Explain how a better trained and educated labour force might affect economic growth.

Explain how a better trained and educated labour force might affect economic growth.

Define the term trade war indicated in bold in the text (paragraph [1]).

Define the term trade war indicated in bold in the text (paragraph [1]).

Define the term trade war indicated in bold in the text (paragraph [1]).

Using a tariff diagram, explain the likely effect on consumer surplus of a 25 % tariff on all wooden furniture imported into the US (paragraph [5]).

Using a tariff diagram, explain the likely effect on consumer surplus of a 25 % tariff on all wooden furniture imported into the US (paragraph [5]).

Using a tariff diagram, explain the likely effect on consumer surplus of a 25 % tariff on all wooden furniture imported into the US (paragraph [5]).

Using information from the text/data and your knowledge of economics, evaluate China’s use of subsidies as a form of trade protection.

Using information from the text/data and your knowledge of economics, evaluate China’s use of subsidies as a form of trade protection.

Using information from the text/data and your knowledge of economics, evaluate China’s use of subsidies as a form of trade protection.

List two responsibilities of a central bank (paragraph [4]).

List two responsibilities of a central bank (paragraph [4]).

List two responsibilities of a central bank (paragraph [4]).

Using an AD/AS diagram, explain how “lower prices for food and raw materials” might put downward pressure on inflation (paragraph [1]).

Using an AD/AS diagram, explain how “lower prices for food and raw materials” might put downward pressure on inflation (paragraph [1]).

Using an AD/AS diagram, explain how “lower prices for food and raw materials” might put downward pressure on inflation (paragraph [1]).

Define the term gross domestic product indicated in bold in the text (paragraph [4]).

Define the term gross domestic product indicated in bold in the text (paragraph [4]).

Define the term gross domestic product indicated in bold in the text (paragraph [4]).

Define the term current account surplus indicated in bold in the text (paragraph [7]).

Define the term current account surplus indicated in bold in the text (paragraph [7]).

Define the term current account surplus indicated in bold in the text (paragraph [7]).

Using a production possibilities curve (PPC) diagram, explain how the importing of “new technology and capital equipment” might affect Thailand’s production possibilities (paragraph [3]).

Using a production possibilities curve (PPC) diagram, explain how the importing of “new technology and capital equipment” might affect Thailand’s production possibilities (paragraph [3]).

Using a production possibilities curve (PPC) diagram, explain how the importing of “new technology and capital equipment” might affect Thailand’s production possibilities (paragraph [3]).

Using information from the text/data and your knowledge of economics, evaluate the implications of the strong Thai baht on Thailand’s economy.

Using information from the text/data and your knowledge of economics, evaluate the implications of the strong Thai baht on Thailand’s economy.

Using information from the text/data and your knowledge of economics, evaluate the implications of the strong Thai baht on Thailand’s economy.

Define the term tariffs indicated in bold in the text (paragraph [5]).

Define the term tariffs indicated in bold in the text (paragraph [5]).

Define the term tariffs indicated in bold in the text (paragraph [5]).

Using a demand and supply diagram for processed food, explain how the EU’s tariff on palm oil might impact the market for processed food in the EU (paragraph [5]).

Using a demand and supply diagram for processed food, explain how the EU’s tariff on palm oil might impact the market for processed food in the EU (paragraph [5]).

Using a demand and supply diagram for processed food, explain how the EU’s tariff on palm oil might impact the market for processed food in the EU (paragraph [5]).

Using information from the text/data and your knowledge of economics, discuss the economic effects on Indonesia of establishing a free trade agreement with the EU.

Using information from the text/data and your knowledge of economics, discuss the economic effects on Indonesia of establishing a free trade agreement with the EU.

Using information from the text/data and your knowledge of economics, discuss the economic effects on Indonesia of establishing a free trade agreement with the EU.

Define the term human capital indicated in bold in the text (paragraph [5]).

Define the term human capital indicated in bold in the text (paragraph [5]).

Define the term human capital indicated in bold in the text (paragraph [5]).

Using a Lorenz curve, explain how a progressive tax system could change Vanuatu’s income distribution (paragraph [7]).

Using a Lorenz curve, explain how a progressive tax system could change Vanuatu’s income distribution (paragraph [7]).

Using a Lorenz curve, explain how a progressive tax system could change Vanuatu’s income distribution (paragraph [7]).

Define the term green GDP indicated in bold in the text (paragraph [7]).

Define the term green GDP indicated in bold in the text (paragraph [7]).

Define the term green GDP indicated in bold in the text (paragraph [7]).

Using a business cycle diagram from 2010 to 2019, explain how cyclical unemployment may have changed during the economic boom (paragraph [1]) and the recession (paragraph [2]) in Brazil.

Using a business cycle diagram from 2010 to 2019, explain how cyclical unemployment may have changed during the economic boom (paragraph [1]) and the recession (paragraph [2]) in Brazil.

Using a business cycle diagram from 2010 to 2019, explain how cyclical unemployment may have changed during the economic boom (paragraph [1]) and the recession (paragraph [2]) in Brazil.

Explain two possible positive consequences of economic growth in Kanyaland.

Explain two possible positive consequences of economic growth in Kanyaland.

Explain two possible positive consequences of economic growth in Kanyaland.

Using Table 3, calculate the rate of inflation in 2017 and in 2018.

Using Table 3, calculate the rate of inflation in 2017 and in 2018.

Using Table 3, calculate the rate of inflation in 2017 and in 2018.

Using Table 4, identify the marginal tax rate for Rufus.

Using Table 4, identify the marginal tax rate for Rufus.

Using Table 4, identify the marginal tax rate for Rufus.

State one example of a debit item from the financial account of the balance of payments.

State one example of a debit item from the financial account of the balance of payments.

State one example of a debit item from the financial account of the balance of payments.

Using Table 5, calculate the net exports of goods and services for Laylaland in 2020.

Using Table 5, calculate the net exports of goods and services for Laylaland in 2020.

Using Table 5, calculate the net exports of goods and services for Laylaland in 2020.

Calculate the change in consumer expenditure on imported chia seeds in Nofiberland resulting from the imposition of the tariff.

Calculate the change in consumer expenditure on imported chia seeds in Nofiberland resulting from the imposition of the tariff.

Calculate the change in consumer expenditure on imported chia seeds in Nofiberland resulting from the imposition of the tariff.

Calculate the total welfare loss resulting from the imposition of the tariff on chia seeds.

Calculate the total welfare loss resulting from the imposition of the tariff on chia seeds.

Calculate the total welfare loss resulting from the imposition of the tariff on chia seeds.

Explain how the increase in world demand for quinoa would likely affect the current account balance of Proteinland.

Explain how the increase in world demand for quinoa would likely affect the current account balance of Proteinland.

Explain how the increase in world demand for quinoa would likely affect the current account balance of Proteinland.

Using real-world examples, evaluate the effectiveness of monetary policy to achieve low unemployment.

Using real-world examples, evaluate the effectiveness of monetary policy to achieve low unemployment.

Using real-world examples, evaluate the effectiveness of monetary policy to achieve low unemployment.

Using real-world examples, evaluate the effectiveness of monetary policy to achieve low inflation.

Using real-world examples, evaluate the effectiveness of monetary policy to achieve low inflation.

Using real-world examples, evaluate the effectiveness of monetary policy to achieve low inflation.

Using real-world examples, discuss the consequences of a fall in a country’s exchange rate.

Using real-world examples, discuss the consequences of a fall in a country’s exchange rate.

Using real-world examples, discuss the consequences of a fall in a country’s exchange rate.

Governments intervene in markets to support firms and to promote equity. Explain one policy that could be used to support firms and one policy that could be used to promote equity.

Governments intervene in markets to support firms and to promote equity. Explain one policy that could be used to support firms and one policy that could be used to promote equity.

Governments intervene in markets to support firms and to promote equity. Explain one policy that could be used to support firms and one policy that could be used to promote equity.

Using real-world examples, discuss the significance of economic barriers for a country’s economic growth and economic development.

Using real-world examples, discuss the significance of economic barriers for a country’s economic growth and economic development.

Using real-world examples, discuss the significance of economic barriers for a country’s economic growth and economic development.

Define the term unemployment rate indicated in bold in the text (Text A, paragraph [6]).

Define the term unemployment rate indicated in bold in the text (Text A, paragraph [6]).

Define the term unemployment rate indicated in bold in the text (Text A, paragraph [6]).

Using information from Table 1, calculate North Macedonia’s annual rates of inflation between 2016 and 2019.

Using information from Table 1, calculate North Macedonia’s annual rates of inflation between 2016 and 2019.

Using information from Table 1, calculate North Macedonia’s annual rates of inflation between 2016 and 2019.

Using your answer to part (b)(i), identify the year disinflation set in.

Using your answer to part (b)(i), identify the year disinflation set in.

Using your answer to part (b)(i), identify the year disinflation set in.

List two dimensions of the Inequality adjusted Human Development Index (IHDI) (Text D, paragraph [3]).

List two dimensions of the Inequality adjusted Human Development Index (IHDI) (Text D, paragraph [3]).

List two dimensions of the Inequality adjusted Human Development Index (IHDI) (Text D, paragraph [3]).

Using the information in Table 3, calculate the change in Sierra Leone’s current account balance from 2017 to 2018.

Using the information in Table 3, calculate the change in Sierra Leone’s current account balance from 2017 to 2018.

Using the information in Table 3, calculate the change in Sierra Leone’s current account balance from 2017 to 2018.

Using an exchange rate diagram, explain how the fall in export revenue contributed to the depreciation of the leone (Text D, paragraph [4]).

Using an exchange rate diagram, explain how the fall in export revenue contributed to the depreciation of the leone (Text D, paragraph [4]).

Using an exchange rate diagram, explain how the fall in export revenue contributed to the depreciation of the leone (Text D, paragraph [4]).

Using an AD/AS diagram, explain how the increase in the price of fuel might have contributed to inflation (Text D, paragraph [5]).

Using an AD/AS diagram, explain how the increase in the price of fuel might have contributed to inflation (Text D, paragraph [5]).

Using an AD/AS diagram, explain how the increase in the price of fuel might have contributed to inflation (Text D, paragraph [5]).

Using a demand and supply diagram, explain how modern farming practices could affect the market for rice (Text E, paragraph [3]).

Using a demand and supply diagram, explain how modern farming practices could affect the market for rice (Text E, paragraph [3]).

Using a demand and supply diagram, explain how modern farming practices could affect the market for rice (Text E, paragraph [3]).

Using information from Table 1, calculate the change in the surplus on Vietnam’s balance of trade in goods with Japan between 2015 and 2019.

Using information from Table 1, calculate the change in the surplus on Vietnam’s balance of trade in goods with Japan between 2015 and 2019.

Using information from Table 1, calculate the change in the surplus on Vietnam’s balance of trade in goods with Japan between 2015 and 2019.

Using a production possibilities curve (PPC) diagram to show comparative advantage, explain why Vietnam would export seafood to Japan while Japan would export machinery to Vietnam (Text B, paragraph [1]).

Using a production possibilities curve (PPC) diagram to show comparative advantage, explain why Vietnam would export seafood to Japan while Japan would export machinery to Vietnam (Text B, paragraph [1]).

Using a production possibilities curve (PPC) diagram to show comparative advantage, explain why Vietnam would export seafood to Japan while Japan would export machinery to Vietnam (Text B, paragraph [1]).

Using an exchange rate diagram, explain how the central bank in Vietnam could prevent the dong from depreciating by using its reserve assets (Text C, paragraph [2]).

Using an exchange rate diagram, explain how the central bank in Vietnam could prevent the dong from depreciating by using its reserve assets (Text C, paragraph [2]).

Using an exchange rate diagram, explain how the central bank in Vietnam could prevent the dong from depreciating by using its reserve assets (Text C, paragraph [2]).

Using information from the texts/data and your knowledge of economics, discuss the view that trade with Japan is more beneficial for Vietnam’s economic development than foreign direct investment (FDI) from Japan.

Using information from the texts/data and your knowledge of economics, discuss the view that trade with Japan is more beneficial for Vietnam’s economic development than foreign direct investment (FDI) from Japan.

Using information from the texts/data and your knowledge of economics, discuss the view that trade with Japan is more beneficial for Vietnam’s economic development than foreign direct investment (FDI) from Japan.

Define the term tariffs indicated in bold in the text (Text D, paragraph [5]).

Define the term tariffs indicated in bold in the text (Text D, paragraph [5]).

Define the term tariffs indicated in bold in the text (Text D, paragraph [5]).

Sketch a production possibilities curve (PPC) diagram to show the effect of improved human capital on Malawi’s potential output (Text D, paragraph [2]).

Sketch a production possibilities curve (PPC) diagram to show the effect of improved human capital on Malawi’s potential output (Text D, paragraph [2]).

Sketch a production possibilities curve (PPC) diagram to show the effect of improved human capital on Malawi’s potential output (Text D, paragraph [2]).

Using information from Table 3, calculate real GDP (at 2010 prices) in 2019 using the price deflator.

Using information from Table 3, calculate real GDP (at 2010 prices) in 2019 using the price deflator.

Using information from Table 3, calculate real GDP (at 2010 prices) in 2019 using the price deflator.

Using an AD/AS diagram, explain how a reduction in government spending may reduce inflation (Text D, paragraph [4]).

Using an AD/AS diagram, explain how a reduction in government spending may reduce inflation (Text D, paragraph [4]).

Using an AD/AS diagram, explain how a reduction in government spending may reduce inflation (Text D, paragraph [4]).

Using an exchange rate diagram, explain how a reduction in the current account deficit could affect the exchange rate for the kwacha (Text D, paragraph [5]).

Using an exchange rate diagram, explain how a reduction in the current account deficit could affect the exchange rate for the kwacha (Text D, paragraph [5]).

Using an exchange rate diagram, explain how a reduction in the current account deficit could affect the exchange rate for the kwacha (Text D, paragraph [5]).

Using the information in Figure 1, calculate the price elasticity of demand for gold in Burundi when price increases from US$1500 per oz to US$1800 per oz.

Using the information in Figure 1, calculate the price elasticity of demand for gold in Burundi when price increases from US$1500 per oz to US$1800 per oz.

Using the information in Figure 1, calculate the price elasticity of demand for gold in Burundi when price increases from US$1500 per oz to US$1800 per oz.

Calculate the amount of VAT which was paid on the purchase of this equipment.

Calculate the amount of VAT which was paid on the purchase of this equipment.

Calculate the amount of VAT which was paid on the purchase of this equipment.

Sketch an AD/AS diagram to illustrate the possible effect on the Burundian economy in the long run if the government reduces the rate of corporate income tax from 30 % to 26 %.

Sketch an AD/AS diagram to illustrate the possible effect on the Burundian economy in the long run if the government reduces the rate of corporate income tax from 30 % to 26 %.

Sketch an AD/AS diagram to illustrate the possible effect on the Burundian economy in the long run if the government reduces the rate of corporate income tax from 30 % to 26 %.

Using a diagram and the information above, explain why traffic congestion in India may be considered an example of market failure.

Using a diagram and the information above, explain why traffic congestion in India may be considered an example of market failure.

Using a diagram and the information above, explain why traffic congestion in India may be considered an example of market failure.

Using Figure 2 and your answer to part (a)(ii), calculate the loss in consumer surplus which results from the imposition of indirect taxes on petrol in New Delhi.

Using Figure 2 and the information in Table 4, calculate the total profit earned by petrol suppliers in New Delhi per day.

Using Figure 2 and the information in Table 4, calculate the total profit earned by petrol suppliers in New Delhi per day.

Using Figure 2 and the information in Table 4, calculate the total profit earned by petrol suppliers in New Delhi per day.

With reference to the use of cars in India, explain how one limitation of the assumptions of rational consumer choice might result in the overuse of cars in New Delhi.

With reference to the use of cars in India, explain how one limitation of the assumptions of rational consumer choice might result in the overuse of cars in New Delhi.

With reference to the use of cars in India, explain how one limitation of the assumptions of rational consumer choice might result in the overuse of cars in New Delhi.

Explain why the existence of positive externalities of consumption would lead to allocative inefficiency and thus a welfare loss.

Explain why the existence of positive externalities of consumption would lead to allocative inefficiency and thus a welfare loss.

Explain why the existence of positive externalities of consumption would lead to allocative inefficiency and thus a welfare loss.

Using real-world examples, evaluate the policies a government might adopt to respond to a market situation in which significant asymmetric information exists.

Using real-world examples, evaluate the policies a government might adopt to respond to a market situation in which significant asymmetric information exists.

Using real-world examples, evaluate the policies a government might adopt to respond to a market situation in which significant asymmetric information exists.

Define the term absolute poverty indicated in bold in the text (Text A, paragraph [1]).

Define the term absolute poverty indicated in bold in the text (Text A, paragraph [1]).

Define the term absolute poverty indicated in bold in the text (Text A, paragraph [1]).

State whether the Bangladeshi exchange rate depreciated or appreciated between 2010 and 2019.

State whether the Bangladeshi exchange rate depreciated or appreciated between 2010 and 2019.

State whether the Bangladeshi exchange rate depreciated or appreciated between 2010 and 2019.

Using a demand and supply diagram, explain why falling demand will reduce Bangladeshi firms’ revenue (Text A, paragraph [5]).

Using a demand and supply diagram, explain why falling demand will reduce Bangladeshi firms’ revenue (Text A, paragraph [5]).

Using a demand and supply diagram, explain why falling demand will reduce Bangladeshi firms’ revenue (Text A, paragraph [5]).

Using information from Text E and Table 3, calculate the income elasticity of demand for health care in Uruguay between 2010 and 2018.

Using information from Text E and Table 3, calculate the income elasticity of demand for health care in Uruguay between 2010 and 2018.

Using information from Text E and Table 3, calculate the income elasticity of demand for health care in Uruguay between 2010 and 2018.

Using information from the text/data and your knowledge of economics, evaluate the effectiveness of the government’s macroeconomic policies in achieving economic growth and economic development in Uruguay.

Using information from the text/data and your knowledge of economics, evaluate the effectiveness of the government’s macroeconomic policies in achieving economic growth and economic development in Uruguay.

Using information from the text/data and your knowledge of economics, evaluate the effectiveness of the government’s macroeconomic policies in achieving economic growth and economic development in Uruguay.

Using an AD/AS diagram, explain how falling remittances may affect Lebanon’s real output (Text E, paragraph [3]).

Using an AD/AS diagram, explain how falling remittances may affect Lebanon’s real output (Text E, paragraph [3]).

Using an AD/AS diagram, explain how falling remittances may affect Lebanon’s real output (Text E, paragraph [3]).

Using an exchange rate diagram, explain how Lebanon’s current account balance could affect the Lebanese pound (Text D, paragraph [3]).

Using an exchange rate diagram, explain how Lebanon’s current account balance could affect the Lebanese pound (Text D, paragraph [3]).

Using an exchange rate diagram, explain how Lebanon’s current account balance could affect the Lebanese pound (Text D, paragraph [3]).

Using information from the text/data and your knowledge of economics, discuss the impact of the proposed IMF conditions (Text F, paragraph [1]) on Lebanon’s economic growth and economic development.

Using information from the text/data and your knowledge of economics, discuss the impact of the proposed IMF conditions (Text F, paragraph [1]) on Lebanon’s economic growth and economic development.

Using information from the text/data and your knowledge of economics, discuss the impact of the proposed IMF conditions (Text F, paragraph [1]) on Lebanon’s economic growth and economic development.

Determine the missing cost figures and insert your answers in Table 1.

Determine the missing cost figures and insert your answers in Table 1.

Determine the missing cost figures and insert your answers in Table 1.

Using Figure 1, calculate the change in the consumer surplus resulting from this government intervention.

Using Figure 1, calculate the change in the consumer surplus resulting from this government intervention.

Using Figure 1, calculate the change in the consumer surplus resulting from this government intervention.

Using relevant information from Table 3, describe the expected impact this rise in global incomes will have on the demand for domestic routes in relation to the demand for international routes.

Using relevant information from Table 3, describe the expected impact this rise in global incomes will have on the demand for domestic routes in relation to the demand for international routes.

Using relevant information from Table 3, describe the expected impact this rise in global incomes will have on the demand for domestic routes in relation to the demand for international routes.

Using the text/data provided and your knowledge of economics, recommend a policy that may be implemented to reduce the contribution of emissions the aviation industry makes to global warming.

Using the text/data provided and your knowledge of economics, recommend a policy that may be implemented to reduce the contribution of emissions the aviation industry makes to global warming.

Using the text/data provided and your knowledge of economics, recommend a policy that may be implemented to reduce the contribution of emissions the aviation industry makes to global warming.

Using Figure 3, calculate the change in social/community surplus that resulted from the elimination of the 20 % tariff.

Using Figure 3, calculate the change in social/community surplus that resulted from the elimination of the 20 % tariff.

Using Figure 3, calculate the change in social/community surplus that resulted from the elimination of the 20 % tariff.

The currency of Turkey is the Turkish lira (TL). If TL1.00 = US$0.134, using Figure 3, calculate in TL, the change in the monthly total revenues of Turkish wheat producers as a result of the elimination of the 20 % tariff.

The currency of Turkey is the Turkish lira (TL). If TL1.00 = US$0.134, using Figure 3, calculate in TL, the change in the monthly total revenues of Turkish wheat producers as a result of the elimination of the 20 % tariff.

The currency of Turkey is the Turkish lira (TL). If TL1.00 = US$0.134, using Figure 3, calculate in TL, the change in the monthly total revenues of Turkish wheat producers as a result of the elimination of the 20 % tariff.

Using information from Table 1, calculate the change in Uruguay’s current account balance between 2018 and 2019.

Using information from Table 1, calculate the change in Uruguay’s current account balance between 2018 and 2019.

Using information from Table 1, calculate the change in Uruguay’s current account balance between 2018 and 2019.