Forty marks across four short-answer questions, about 12 items. The marks follow the command word: identify names a point, outline sketches it, explain adds the cause and the effect.
Marks
40, about 12 items
Questions
Four, which may be in parts
Often on
A table, a graph or a short context
Calculations
Rates, the multiplier, the balance of payments
Answer to the command word
Identify or outline: name the point, then a sentence that says what it means in this context.
Explain: the point, the economic link that drives it, and what it leads to (cause and effect).
Calculate: write the measure, put in the figures, show the working and give the answer with its unit.
Use the data you are given
Many items give you a table or a graph. Quote the figures you use, describe the trend before you explain it, and keep the direction of each change right: a lower deficit is not a surplus.
Try 2 questions
Question 1
Current account, hypothetical economy (invented, billion dollars)
Item
Credits
Debits
Goods
240
252
Services
70
64
Primary income
30
66
Secondary income
6
8
The table gives a hypothetical economy's current account flows for one year (invented figures). It also has a capital account deficit of 2 billion dollars and net errors and omissions of +3 billion dollars (a net credit), and its current account, capital account, financial account and net errors and omissions sum to zero. What is the balance on its financial account?
Question 2
0123456789−1−0.50.511.5QuarterReal GDP growth (% per quarter)Real GDP growth0.91.00.60.2−0.3−0.40.30.7
The graph shows a hypothetical economy's quarterly real GDP growth rate over eight quarters (invented figures). At the end of which quarter was the level of real GDP at its highest before the downturn?