Economics 9708 · AS & A Level · National income statistics

National income statistics — practice question

(a)[3]

Explain what GDP means.

(b)[3]

The article says that banks were urged to make borrowing easier. Explain what this could mean and why the government may have believed it was needed.

(c)[6]

Is there enough evidence in the article to back the view that the economic position of emerging economies has improved?

(d)[8]

Identify the two policy approaches suggested by economists in the article and discuss whether there is a conflict between them.

Worked solution & mark scheme

This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: The Gross Domestic Product (GDP) measures the value of economic activity inside a country. In the strict sense, GDP is the total of the market values, or prices, of all final goods and services produced in an economy over a period of time.

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