AQA A-Level Economics Paper 3 June 2024

Another policy to reduce the gender pay gap could be to improve the education and training of women. In a free labour market, wages are determined by supply and demand of labour alone.

* Demand for labour: number of workers that firms are willing and able to hire at each given wage * productivity of workers * derived demand (demand for final good or service) * substitutability of capital * retail

See answers below * Expansionary fiscal policy * Description: * Diagram: * Good macroeconomic effects: * Bad macroeconomic effects: * Evaluation points: * Contractionary fiscal policy * Description: * Diagram: * Good macroeconomic effects: * Bad macroeconomic effects: * Evaluation points: * Expansionary monetary policy * Description: