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2.1 The measurement of macroeconomic performance

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Question 69

The table below shows macroeconomic data for a hypothetical economy over two consecutive years:

Macroeconomic IndicatorYear 1Year 2
Nominal GDP£400 billion£462 billion
GDP Deflator100105
Population50 million51 million

Which of the following statements is correct?

A

The inflation rate between Year 1 and Year 2 is 15.5%15.5\%15.5%.

B

The rate of economic growth (measured by the percentage change in real GDP) between Year 1 and Year 2 is 10.0%10.0\%10.0%.

C

Real GDP per capita in Year 2 is approximately £9,059£9,059£9,059.

D

Real GDP in Year 2 is £485.1485.1485.1 billion.

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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