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2.4 Financial markets and monetary policy (A-level only)

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Question 24

Context 2: Quantitative easing in the Eurozone

Extract D

Figure 1: Cumulative value of European Central Bank (ECB) asset purchases

DateCumulative value (€ trillion)
December 2015€0.6tn
December 2018€2.6tn
December 2020€3.7tn
December 2022€4.9tn

Figure 2: Selected macroeconomic performance indicators for the Eurozone, period averages

Indicator2012–20152016–20182019–2022
Real GDP annual growth rate (%)0.52.11.2
HICP annual inflation rate (%)0.81.42.1
Unemployment rate (%)11.68.87.4
Current account balance (% of GDP)+1.8+3.1+2.4

Explain how the data in Extract D (Figure 2) show that the growth in quantitative easing (shown in Figure 1) may have been successful in helping the Eurozone achieve its macroeconomic objectives since 2015.

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2.4 Financial markets and monetary policy (A-level only) Questions

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  3. /2.4 Financial markets and monetary policy (A-level only)