Government and the Economy

Worked examples (5)

• 1Calculate real GDP growth (4 marks, Paper 2)
• 2Identify business cycle phase (4 marks, Paper 1)
• 3Calculate unemployment rate (3 marks, Paper 1)
• 4Identify types of unemployment (4 marks, Paper 2)
• 5Impact of recession on unemployment (6 marks, Paper 2)

Model answers (4)

• ✓Model answer — 4EC1-style — Paper 1, 6 mark explain
• ✓Model answer — 4EC1-style — Paper 2, 8 mark explain
• ✓Model answer — 4EC1-style — Paper 2, 9 mark discuss
• ✓Model answer — 4EC1-style — Paper 2, 12 mark evaluate (challenge)

Worked examples (5)

• 1Calculate inflation rate from CPI (3 marks, Paper 1)
• 2Identify type of inflation (4 marks, Paper 2)
• 3Effects of high inflation on households (5 marks, Paper 2)
• 4Identify current account components (4 marks, Paper 1)
• 5Causes of UK current account deficit (5 marks, Paper 2)

Model answers (4)

• ✓Model answer — 4EC1-style — Paper 1, 6 mark explain
• ✓Model answer — 4EC1-style — Paper 2, 8 mark explain
• ✓Model answer — 4EC1-style — Paper 2, 9 mark discuss
• ✓Model answer — 4EC1-style — Paper 2, 12 mark evaluate (challenge)

Worked examples (4)

• 1Identify type of fiscal policy (3 marks, Paper 1)
• 2Effect of interest rate cut (4 marks, Paper 2)
• 3Identify supply-side measures (4 marks, Paper 2)
• 4Choosing the right policy mix (6 marks, Paper 2)

Model answers (4)

• ✓Model answer — 4EC1-style — Paper 1, 6 mark explain
• ✓Model answer — 4EC1-style — Paper 2, 8 mark explain
• ✓Model answer — 4EC1-style — Paper 2, 9 mark discuss
• ✓Model answer — 4EC1-style — Paper 2, 12 mark evaluate (challenge)

Worked examples (4)

• 1Phillips curve trade-off (4 marks, Paper 2)
• 2Match policies to objectives (4 marks, Paper 2)
• 3Why a policy may fail (5 marks, Paper 2)
• 4Modern policy challenges (5 marks, Paper 2)

Model answers (4)

• ✓Model answer — 4EC1-style — Paper 1, 6 mark explain
• ✓Model answer — 4EC1-style — Paper 2, 8 mark discuss
• ✓Model answer — 4EC1-style — Paper 2, 9 mark discuss
• ✓Model answer — 4EC1-style — Paper 2, 12 mark evaluate (challenge)