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1.1 Economic methodology and the economic problem

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Question 81

Which of the following is a positive economic statement?

A

The government ought to subsidise domestic solar panel production to accelerate the transition to green energy.

B

It is vital that the central bank prioritises price stability above all other macroeconomic objectives.

C

A 10% increase in the price of fuel results in a 2% contraction in the quantity demanded of fuel in the short run.

D

Progressive income tax systems are fairer than flat tax systems because they reduce income inequality.

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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