The government of Norwyn raises taxation of firms' profits to finance an expansion of its main freight port. The table shows selected economic data before the policy and two years after it was introduced.
| Economic data | Before the policy | Two years after the policy |
|---|---|---|
| Average cost of moving one tonne of goods through the port | £52 | £44 |
| Annual business investment in machinery and equipment | £40 billion | £31 billion |
Using the data, evaluate whether the policy is likely to increase Norwyn's long-run economic growth.
78 exam-style questions on OCR GCSE Economics 3.1 Economic growth, covering 3.1.1 What is economic growth, 3.1.2 Calculate economic growth using GDP, 3.1.3 Explain how growth is measured, 3.1.4 Analyse GDP data, 3.1.5 Determinants of economic growth, and 3.1.6 Costs and benefits of economic growth. Each one has a worked solution and a mark scheme showing where the marks go.