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2.1 The measurement of macroeconomic performance

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Question 3

Context 1: The logistics and commercial warehousing sector

Extract A

Table 1: Average monthly lease rates for cold-storage commercial warehousing (£ per sq m), selected UK regions, 2017 and 2023

Selected UK regionsAverage monthly lease rate, 2017Average monthly lease rate, 2023
Scotland£15.10£21.20
North West£16.80£22.90
Midlands£17.50£24.10
South East£24.20£33.40
South West£18.50£25.50
UK average£18.00£24.84

Inflation resulted in a basket of goods and services that cost £100 in 2017 costing £120 in 2023. Using this information and the data in Extract A (Table 1), calculate the percentage increase in the average UK cold-storage lease rate, in real terms, between 2017 and 2023.

Give your answer to one decimal place.

[2]
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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