(a)[2]
Using the data in Table 1.1, calculate the expected growth in Taiwan’s real GDP in 2021, based on the latest forecast.
(b)[4]
State two internal causes of economic growth for Taiwan in 2021 and assess which of them is more likely to create long-term economic growth.
(c)[2]
Explain why the Taiwan dollar appreciated in 2020.
(d)[6]
Assess whether the effects of the appreciation of the Taiwan dollar on the terms of trade will help all industries in Taiwan.
(e)[6]
Assess the possible consequences that a higher rate of economic growth may have for an economy such as Taiwan.