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1.1 Economic methodology and the economic problem

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Question 90

Consider the following statement:

"Imposing a 20% tariff on imported solar panels will lead to a net loss of 5,000 jobs in the domestic installation sector within twelve months."

This statement

A

is a normative statement because it makes a speculative prediction about future employment levels rather than stating established facts.

B

is a positive statement because it makes a testable prediction about the objective consequences of a policy.

C

is a normative statement because it expresses an ethical value judgment against trade protectionism.

D

is a positive statement because it has been proven to be factually correct by historical economic data.

Markscheme

1.1 Economic methodology and the economic problem Questions

  1. A Level
  2. /Economics
  3. /1.1 Economic methodology and the economic problem

123 exam-style questions on AQA A Level Economics 1.1 Economic methodology and the economic problem, covering 1.1.1 Economic methodology, 1.1.2 The nature and purpose of economic activity, 1.1.3 Economic resources, 1.1.4 Scarcity, choice and the allocation of resources, and 1.1.5 Production possibility diagrams. Each one has a worked solution and a mark scheme showing where the marks go.

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