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3.5 Fiscal policy

3.5 Fiscal policy

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Question 11

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The diagram shows a government's revenue and spending. What was its budget position in Year 2?

[1]
A

A £20 billion deficit

B

A £40 billion surplus

C

A £40 billion deficit

D

A balanced budget

Markscheme

3.5 Fiscal policy Questions

  1. GCSE
  2. /Economics
  3. /3.5 Fiscal policy

30 exam-style questions on OCR GCSE Economics 3.5 Fiscal policy, covering 3.5.1 Government spending and revenue, 3.5.2 Budget balance, surplus and deficit, 3.5.3 What is fiscal policy, 3.5.4 Calculate effects of taxes and spending, 3.5.5 Analyse effects of taxes and spending, 3.5.6 Costs and benefits of fiscal policy, and 3.5.7 Redistributing income and wealth. Each one has a worked solution and a mark scheme showing where the marks go.

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