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2.1 The measurement of macroeconomic performance

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Question 61

An economy's nominal GDP increased from £600 billion to £618 billion over a one-year period. During the same period, the economy experienced inflation. Which of the following statements can be correctly concluded?

A

If the rate of inflation was greater than 3%3\%3%, real GDP must have decreased.

B

Real GDP must have increased because nominal GDP grew by 3%3\%3%.

C

If the rate of inflation was exactly 3%3\%3%, real GDP must have increased by 3%3\%3%.

D

The economy must have experienced a decrease in physical output if inflation was less than 3%3\%3%.

Markscheme

2.1 The measurement of macroeconomic performance Questions

  1. A Level
  2. /Economics
  3. /2.1 The measurement of macroeconomic performance

187 exam-style questions on AQA A Level Economics 2.1 The measurement of macroeconomic performance, covering 2.1.1 The objectives of government economic policy, 2.1.2 Macroeconomic indicators, 2.1.3 Uses of index numbers, and 2.1.4 Uses of national income data (A-level only). Each one has a worked solution and a mark scheme showing where the marks go.

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