Unit 4: Developments in the global economy · WEC14/01
Edexcel International A-level Unit 4, January 2023
All 8 written questions and 6 multiple choice questions from Edexcel International A-level Unit 4 (January 2023), Developments in the global economy. Case studies: Inflation and labour markets in developed economies. Each question shows its marks and topic, and opens the question paper and mark scheme at the right page.
Section A
- AA decrease in confidence in the USA's economy by currency speculators
- BA decrease in the USA's rate of economic growth
- CAn increase in capital flight out of the USA into the eurozone
- DAn increase in the USA's base interest rate relative to the eurozone
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The answer is D.
- AA decrease in the rate of inflation
- BA decrease in debt servicing costs
- CAn increase in crowding out
- DAn increase in tax revenues
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The answer is C.
- AIt is an ad valorem tax
- BIt is a specific tax
- CIt is a tax on income
- DIt is a tax on company profits
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The answer is B.
- AA decrease in public expenditure on transfer payments
- BA decrease in the rate of unemployment
- CAn increase in the national minimum wage
- DAn increase in spending on training for unskilled workers
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The answer is A.
- AC D F P1 World supply Domestic demand 0 Q1 Q2 Q3 Q4 Quantity Which one of the following can be deduced from this diagram? A Consumer surplus has increased by the area P1P2EF
- BGovernment tax revenue is the area ABEF
- CNet welfare loss areas are ABC and DEF
- DProducer surplus has decreased by the area P1P2BA
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The answer is C.
- AFall Fall
- BFall Rise
- CRise Fall
- DRise Rise
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The answer is D.
Section B
Case study
Inflation and labour markets in developed economies
Extracts: Figure 1: Annual inflation rate for selected countries (%), as measured by the · Extract A: Rising rates of inflation · Extract B: Labour markets · Figure 1: adapted from OECD, https://data.oecd.org/price/inflation-forecast.htm · Extract A: adapted from FT, https://www.ft.com/content/088d3368-bb8b-4ff3-9df7-a7680d4d81b2 · Extract B: adapted from FT, https://www.ft.com/content/3cff0294-4c4d-4e29-b482-1f6f41889399
In the extracts: Q1 Q2 Q3 Q4, New Zealand United States, America United Kingdom, CPI, Inflation, OECD, USA, Annual, Another, Employers
TopicGlobalisation
TopicGlobalisation
TopicGlobalisation
TopicGlobalisation
TopicGlobalisation
Section C
Question text is quoted from the question papers, © Pearson Edexcel, for students’ private study. Open the official papers and mark schemes from the links on each question. Examiner insights are written with AI assistance and moderated by Finn.