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2.3 Economic performance

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Question 79

An economy operating at its trend level of output at the end of 2022 has a trend rate of growth of 4% per year. Real GDP increases by 1% in 2023 and 8% in 2024.

Which one of the following accurately describes the position of the economy at the end of each year?

A

2023: Negative output gap; 2024: Negative output gap

B

2023: Negative output gap; 2024: Positive output gap

C

2023: Positive output gap; 2024: Negative output gap

D

2023: Positive output gap; 2024: Positive output gap

Markscheme

2.3 Economic performance Questions

  1. A Level
  2. /Economics
  3. /2.3 Economic performance

327 exam-style questions on AQA A Level Economics 2.3 Economic performance, covering 2.3.1 Economic growth and the economic cycle, 2.3.2 Employment and unemployment, 2.3.3 Inflation and deflation, and 2.3.4 Possible conflicts between macroeconomic policy objectives. Each one has a worked solution and a mark scheme showing where the marks go.

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