Economics 9708 · AS & A Level · National income statistics
National income statistics — practice question
(a)[3]
Explain why GDP is an important economic indicator.
(b)[4]
Use Figures 1 and 2 to compare how the GDP of the UK and Japan changed between 2005 and 2009.
(c)[5]
The article states that the steep fall in export orders ‘is especially worrying because the weakness of sterling is not producing much of an export boom.’ Analyse what this means.
(d)[8]
Discuss whether the evidence suggests that the changes in GDP in Japan and the UK were brought about by similar events.
Worked solution & mark scheme
This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Gross Domestic Product is the total value of economic activity inside a country; it is the combined market values, or prices, of all final goods and services produced in an economy over a period of time.” …