| Quarter | GDP Growth Rate (%) |
|---|---|
| Q1 2021 | -1.8 |
| Q2 2021 | 0.5 |
| Q3 2021 | 1.2 |
| Q4 2021 | 1.7 |
| Q1 2022 | 2.4 |
| Q2 2022 | 1.3 |
| Q3 2022 | -0.4 |
| Q4 2022 | 0.8 |
| Q1 2023 | -1.5 |
| Q2 2023 | -0.6 |
| Q3 2023 | 1.1 |
| Q4 2023 | -0.2 |
Which one of the following can be deduced from the data?
In Q2 2022, the level of real GDP fell by 1.1 percentage points
The price level was falling at an accelerating rate between Q3 2021 and Q4 2021
The economy experienced a technical recession in the first half of 2023
Real GDP was lower in Q1 2022 than in Q3 2021
8 exam-style questions on Edexcel A A Level Economics 2.5.3 Trade (business) cycle. Each one has a worked solution and a mark scheme showing where the marks go.