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A LevelEconomicsAQAExam QuestionsThe National & International Economy9. Measuring Macroeconomic Performance

Measuring Macroeconomic Performance (AQA A Level Economics): Exam Questions

Exam code: 7136

48 mins13 questions

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9. Measuring Macroeconomic Performance

1
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Table 4 shows the weights used in the Consumer Prices Index (CPI) for a selection of items in 2008 and 2018.

Category

2008 weight

2018 weight

Food and non-alcoholic beverages

109

101

Alcoholic beverages and tobacco

42

42

Clothing and footwear

63

70

Transport

152

156

All goods

547

519

All services

453

481

The data in Table 4 indicate that between 2008 and 2018 the

  • average price of goods fell, whereas the average price of services increased.

  • percentage increase in the price of ‘Clothing and footwear’ was greater than the percentage increase in the price of ‘Transport’.

  • proportion of total expenditure, by a typical household, on ‘Alcoholic beverages and tobacco’ did not change.

  • total expenditure of a typical household on ‘Food and non-alcoholic beverages’ fell.

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2
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An economy had a 3% increase in its real GDP over a one year period. In the same period its population grew by 5% and its rate of inflation was 2.5%. From these data it can be inferred that

  • its Human Development Index decreased by 2%.

  • nominal GDP per capita increased.

  • real wages fell due to inflation.

  • the number of unemployed people increased.

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3
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An economy’s GDP increased from £400 billion in 2016 to £428 billion in 2018. Using 2016 as the base year, what is the value of the index for GDP in 2018?

  • 103.5

  • 106.5

  • 107.0

  • 128.0

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4
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The following table shows the real GDP of an economy from 2012 to 2016.

Year      

 2012

2013

2014

2015

2016

Real GDP (£bn) 

213

215

 245 

256 

271

If the figures were converted to index form with 2013 as the base year, what would be the value of the index (to the nearest whole number) in 2016?

  • 124

  • 125

  • 126

  • 127

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5
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The information below shows the changes in key economic indicators for a country over a period of one year.

Money GDP  

Rate of inflation

Population increase

Gini coefficient

+6% 

+4% 

+1%

–8%

Which one of the following can be concluded from the data?

  • External costs generated from economic activity have reduced the quality of life

  • Real GDP per capita has fallen

  • The distribution of income has become more unequal

  • The standard of living of typical residents in the country has probably improved

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