Top answers

Economics
A Level

What is GDP and is it a useful indicator to measure the standard of living?

1) GDP- is the value of all goods and services produced by the economy in a given period (year, quarter...)Quantity of goods x Price of goodsNominal GDP- measures values using current prices. (Prices of G...

Answered by Mohammed M. Economics tutor
2803 Views

Define the term 'income inequality'

Income inequality is a statistical measure concerned with the spread of the distribution of income amongst the population of an economy.

It can be quantified through a variety of measures...

Answered by Matthew L. Economics tutor
3138 Views

How should I answer data response questions?

Data response questions are either 4,6,8,10 or 14 marks.

The marks awarded for each type of question are:

4 marks: K=2   Ap=2

6 marks: K=4   Ap=2

Answered by Katherine S. Economics tutor
23754 Views

How should I answer 4 mark multi-choice questions?

Always start the answer by defining the keywords in the question. You can gain up to 2 marks for definitions alone.

Second, give a simple analysis of your answer. Transmission mechanisms ...

Answered by Katherine S. Economics tutor
2641 Views

Evaluate policies the government can use to increase the rate of economic growth.

Start by defining key terms

"rate of economic growth" - the annual percentage increase in real GDP, which is one of the government's main macroeconomic objectiv...

Answered by Oliver W. Economics tutor
11082 Views

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