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3.1 Economic growth

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Question 12

GDP rises from £300 billion to £315 billion while prices rise by 7%. Which conclusion is most accurate?

[1]
A

Real output definitely rises by 12%

B

Nominal GDP rises by 5%, but real output may have fallen

C

Both nominal and real GDP must rise by 5%

D

Economic growth is 7% because prices rose by 7%

Markscheme

3.1 Economic growth Questions

  1. GCSE
  2. /Economics
  3. /3.1 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.

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