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3.5 Fiscal policy

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Question 54

Government revenue is £780 billion and spending is £825 billion. What is the budget position?

[1]
A

A £45 billion surplus

B

A £45 billion deficit

C

A £1,605 billion deficit

D

A balanced budget

Markscheme

3.5 Fiscal policy Questions

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

76 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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