Sample questions for the new syllabus

topics
Income and wealth inequality (reasons and ways to reduce them).

 Explain the possible economic reasons for inequality of income and consider whether
inequality of income can benefit an economy. [8] - F/M 2023 q.
 Explain the difference between income and wealth and consider how income inequality can
be reduced in an economy. [8]
 Assess whether minimum wages or transfer payments is the best way to reduce income
inequality. [12]

National income statistics (GDP, GNP, NNI)

 Explain what is meant by national income and wealth and consider how national income is
measured. [8]
 Explain methods of calculating gross domestic products used in national income statistics. [8]
 Explain how real and nominal measures work and consider the difference between market
prices and basic prices. [8]

Circular flow of income in an open/closed economy, injections and leakages/withdrawals.

 Explain the circular flow of income in a closed economy and consider the extent to which the
circular flow of income changes as an economy becomes an open economy [8] - F/M 2023
q.
 Explain the equilibrium in the national economy and consider what happens when injections
are greater than leakages. [8]

Economic growth (causes and consequences)

 Assess whether the consequences of economic growth for an economy are always positive.
[12] - F/M 2023 q.
 Explain why there might be a rapid economic growth in an economy and consider if it can
benefit an economy. [8]

Unemployment (frictional, structural, cyclical) and its consequences)

 Compare the causes of structural unemployment and cyclical unemployment and consider
which of these types of unemployment is likely to be more harmful to an economy [8] -
Specimen paper q.
 Explain the causes of unemployment and consider whether which is the most serious type of
unemployment [8]
 Explain the difficulties in measuring unemployment and consider if countries have an
unemployment rate target of 0%. [8]
 Assess whether expansionary monetary policy is likely to be successful in reducing all types
of unemployment. [12] - Specimen paper q.
 Assess whether fiscal policy or supply side policy is best to reduce unemployment. [12]