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2.2 How the macroeconomy works: the circular flow of income, aggregate demand/aggregate supply analysis and related concepts

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Question 28

In an open economy with a government sector, the following macroeconomic data are recorded:

  • Consumer savings (SSS) = £28 billion
  • Investment expenditure (III) = £35 billion
  • Government spending on goods and services (GGG) = £42 billion
  • Tax revenues (TTT) = £38 billion
  • Spending on imported goods and services (MMM) = £24 billion
  • Export revenue (XXX) = £31 billion

What is the total value of withdrawals (leakages) from this economy's circular flow of income?

A

£90 billion

B

£94 billion

C

£101 billion

D

£108 billion

Markscheme

2.2 How the macroeconomy works: the circular flow of income, aggregate demand/aggregate supply analysis and related concepts Questions

  1. A Level
  2. /Economics
  3. /2.2 How the macroeconomy works: the circular flow of income, aggregate demand/aggregate supply analysis and related concepts

222 exam-style questions on AQA A Level Economics 2.2 How the macroeconomy works: the circular flow of income, aggregate demand/aggregate supply analysis and related concepts, covering 2.2.1 The circular flow of income, 2.2.2 Aggregate demand and aggregate supply analysis, 2.2.3 The determinants of aggregate demand, 2.2.4 Aggregate demand and the level of economic activity, 2.2.5 Determinants of short-run aggregate supply, and 2.2.6 Determinants of long-run aggregate supply. Each one has a worked solution and a mark scheme showing where the marks go.

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