June 2017
With the aid of a diagram, evaluate the likely impacts of statutory minimum wages in labour markets.
Markets dominated by large firms, such as Google, Facebook, Apple and Amazon can deliver huge benefits to consumers. To what extent should economists be concerned by highly concentrated markets such as these?
Evaluate the use of supply side reforms in reducing unemployment in the UK.
Discuss whether an increase in investment is likely to be the most important factor in increasing economic growth in economies such as the UK.
To what extent should a government be concerned by a large current account deficit?
“Trade is better than aid.” Discuss the extent to which this is true for less economically developed countries in terms of raising their level of economic development.
June 2018
“A rise in price always leads to a fall in quantity demanded but a rise in demand always leads to a rise in price and a rise in quantity.” With the aid of diagrams evaluate this statement.
To what extent is monopolistic competition a more desirable market structure than perfect competition?
“Deflation is more of a concern than inflation.” Discuss.
“It is possible to reduce the natural rate of unemployment/NAIRU but not possible to reduce unemployment below the natural rate/NAIRU.” Evaluate this statement.
To what extent would an improvement in the terms of trade improve the balance of trade?
How effective are moves towards more free-market based systems involving internal and external liberalisation likely to be in raising living standards in LEDCs?
June 2019
Evaluate the extent to which competition and contestability are desirable in product markets.
Discuss whether government attempts to correct market failure do more harm than good.
Evaluate the extent to which the UK’s financial sector is beneficial to the UK economy.
Discuss the extent to which economies are likely to recover quickly from negative demand side shocks in reality.
Evaluate the possible approaches to raising the level of economic development in LEDCs.
Using a diagram(s), explain how the exchange rate will be determined in a free-floating exchange rate system.
Discuss the extent to which it is desirable for a central bank to use foreign currency reserves to support its exchange rate.
June 2020
Using a diagram(s), explain how the exchange rate will be determined in a free-floating exchange rate system.
Evaluate the extent to which knowledge of price elasticity of demand is important for decision making by firms and governments. Use diagrams to illustrate your answer.
Discuss whether a reversal of QE is likely to be economically beneficial.
To what extent is economic growth beneficial to an economy?
Discuss whether an increase in inward foreign direct investment is a good way to improve economic development for countries that are primary product dependent.
Discuss the possible benefits and drawbacks to EU member countries of adopting the euro.
June 2021
Using diagrams, discuss whether an increase in scale for firms in oligopolistic markets is more likely to increase or to reduce their profitability levels.
Evaluate the impacts of an increase in immigration on labour markets.
Evaluate the policies that a government could use to shift the long run Phillips curve to the left.
Evaluate the view that high levels of investment by firms and government are always beneficial for the economy.
Discuss the extent to which rapid economic growth in a less economically developed country (LEDC) is likely to lead to an increase in its economic development.
Discuss the costs and benefits of globalisation.
June 2022
Evaluate policies that a government could introduce to reduce income inequality in the UK.
To what extent can a natural monopoly ever be efficient? Use a diagram(s) to support your answer.
Evaluate possible policies that could be used to reduce the rate of inflation.
Discuss the extent to which the use of expansionary fiscal policy is appropriate during economic downturns.
Consider how effective the interventionist policies of import substitution and export-led industrialisation are likely to be in raising the levels of economic growth and development in LEDCs.
Evaluate the view that a current account surplus is always beneficial to an economy.
June 2023
Discuss, using economic theory, whether a cut in price by a firm is likely to increase its profitability.
Evaluate the costs and benefits of mergers to both firms and their customers.
Discuss whether achieving low unemployment or low inflation should be the more important policy objective for a government.
Assess the effectiveness of monetary policies for an economy in recession.
Discuss whether a policy of keeping a country’s exchange rate below its equilibrium level is likely to be economically beneficial for that country.
Evaluate the effects of membership of the European Monetary Union (EMU) (the eurozone) on an EU member state.