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2.1 The measurement of macroeconomic performance

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Question 81

Singapore's annual average GDP growth rate has been 3.50% over the past 30 years. Using the data in Table 1, calculate in $US billions, to the nearest whole number, what Singapore's GDP at current prices would be in 2022, assuming an annual growth rate of 3.50% from its 2021 level, and identify one significant feature of the data in Table 1 for the period 2018 to 2021.

Table 1: GDP at current prices ($US billion) for selected East Asian economies, 2018 – 2021

Country2018201920202021
Japan5040512050504940
Singapore377375345397
South Korea1725165116441811
Taiwan605615671775
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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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