OCR · The global economy · International trade and exchange rates

OCR Economics past paper questions: International trade and exchange rates

Every OCR question on International trade and exchange rates from 2021 to 2025: 5 essays, 8 data response questions, 8 short answer questions and 33 multiple choice questions. It covers Measuring economic performance, Macroeconomic objectives and policy, The labour market, Aggregate demand and The financial sector. Each question links to its paper, mark scheme and examiner report.

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SubtopicsMeasuring economic performance 13Macroeconomic objectives and policy 6The labour market 5Aggregate demand 5The financial sector 4Demand, supply and elasticity 4Aggregate supply 2Growth and development 2Poverty and inequality 2The economic problem and resource allocation 2Government intervention in markets 2Market failure 1Competition policy and regulation 1

Essay questions on international trade and exchange rates

AS Paper 2, June 2025, Q18OptionalEvaluate20 marks

Evaluate, using an appropriate diagram(s), whether a loss of confidence in an economy will affect the exchange rate.

Question paper p.14 Mark scheme Examiner report p.2 Open in the tool

A-level Paper 2, June 2023, Q3OptionalEvaluate25 marks

Evaluate, with the use of an appropriate diagram(s), whether a central bank should try to stop a decline in a country's exchange rate.

Question paper p.8 Mark scheme p.22 Examiner report p.2 Open in the tool

A-level Paper 2, June 2022, Q5OptionalEvaluate25 marks

Evaluate whether protectionism always reduces unemployment.

Question paper p.11 Mark scheme p.32 Examiner report p.2 Open in the tool

AS Paper 2, June 2022, Q18OptionalEvaluate20 marks

Evaluate, using an appropriate diagram(s), whether it is beneficial for The Bahamas to operate a fixed exchange rate system.

Question paper p.12 Mark scheme p.21 Open in the tool

A-level Paper 2, October 2021, Q4OptionalEvaluate25 marks

Evaluate whether the UK would benefit from a reduction in the deficit on the current account of the balance of payments.

Question paper p.16 Mark scheme p.20 Open in the tool

Data response questions on international trade and exchange rates

A-level Paper 2, June 2025, Q1(a)2 marks

Case study: What is the future for Bolivia?

Using information from the stimulus material, identify two reasons for imposing export tariffs. 1. 2.

Question paper p.4 Mark scheme p.11 Examiner report p.2 Open in the tool

A-level Paper 2, June 2025, Q1(b)2 marks

Case study: What is the future for Bolivia?

Using Fig. 1, explain how Bolivia's level of development compared to Argentina's level of development in 2021.

Question paper p.4 Mark scheme p.11 Examiner report p.2 Open in the tool

A-level Paper 2, June 2025, Q1(c)Calculate2 marks

Case study: What is the future for Bolivia?

Calculate Bolivia's index of average import prices in 2021.

Question paper p.4 Mark scheme p.12 Examiner report p.2 Open in the tool

A-level Paper 2, June 2025, Q1(e)8 marks

Case study: What is the future for Bolivia?

Using information from the stimulus material, evaluate whether Bolivia should keep a fixed exchange rate.

Question paper p.6 Mark scheme p.14 Examiner report p.2 Open in the tool

A-level Paper 2, June 2024, Q1(b)1 mark

Case study: Changing economic conditions in Kenya

Using information from the stimulus material, calculate to one decimal place Kenya's terms of trade in 2019.

Question paper p.4 Mark scheme p.11 Examiner report p.2 Open in the tool

A-level Paper 2, June 2024, Q1(f)12 marks

Case study: Changing economic conditions in Kenya

Using information from the stimulus material, evaluate whether Kenyans are likely to benefit from globalisation.

Question paper p.7 Mark scheme p.16 Examiner report p.2 Open in the tool

A-level Paper 2, June 2023, Q1(a)2 marks

Case study: International competitiveness

Using information from the stimulus material, calculate the balance on the UK's primary and secondary income in 2019.

Question paper p.5 Mark scheme p.34 Examiner report p.2 Open in the tool

A-level Paper 2, June 2023, Q1(c)Explain2 marks

Case study: International competitiveness

Explain how a change in working hours is likely to affect productivity.

Question paper p.5 Mark scheme p.34 Examiner report p.2 Open in the tool

Short answer questions on international trade and exchange rates

A-level Paper 3, June 2025, Q353 marks

Using the data in Fig. 2.1, explain what has happened to tourist revenues as a share of total exports in the UK from 2015 to 2018.

Question paper p.23 Mark scheme p.28 Examiner report p.3 Open in the tool

AS Paper 2, June 2024, Q16(a)2 marks

Using Fig. 1, describe the UK's balance of trade in goods in January 2021.

Question paper p.10 Mark scheme p.15 Examiner report p.2 Open in the tool

AS Paper 2, June 2024, Q16(b)(i)3 marks

Using Fig. 2, explain what happened to the Sterling to euro exchange rate from May 2020 to October 2020.

Question paper p.10 Mark scheme p.15 Examiner report p.2 Open in the tool

AS Paper 2, June 2024, Q16(b)(ii)2 marks

Lines 28–29 refer to an expected increase in international trade with Japan. Explain one advantage of international trade for developed countries.

Question paper p.10 Mark scheme p.15 Examiner report p.2 Open in the tool

The trade deal with Japan (lines 26–30) may have an impact on the exchange rate between Sterling and the Japanese Yen. Using a diagram, explain the possible impact on the Sterling to Yen exchange rate of an increase in demand from Japan for UK goods.

Question paper p.11 Mark scheme p.17 Examiner report p.2 Open in the tool

A-level Paper 3, June 2023, Q372 marks

Using the data in Fig. 3.1 and the information in Extract 3, calculate the value of UK financial services exports in 2018.

Question paper p.26 Mark scheme p.27 Examiner report p.3 Open in the tool

A-level Paper 3, October 2021, Q36Explain3 marks

Explain, using the data in Fig. 3.1 and Fig. 3.2, in which country exports accounted for the greatest proportion of output in 2019.

Question paper p.23 Mark scheme p.20 Open in the tool

A-level Paper 3, October 2021, Q37Evaluate15 marks

Evaluate, using the information in Extract 3, the extent to which emerging economies gain more from international trade than developed economies.

Question paper p.24 Mark scheme p.21 Open in the tool

Multiple choice questions

A-level Paper 3, June 2025, Q4
The UK government imposes a tariff on imports of steel from Japan. In retaliation the Japanese government imposes protectionist policies on UK firms. What is a likely outcome for the UK economy?
A-level Paper 3, June 2025, Q5
Country A is experiencing a long-term improvement in the terms of trade. Country B is experiencing a long-term deterioration in the terms of trade. What is the likely impact?
A-level Paper 3, June 2025, Q12
Which country has the highest terms of trade? Index of export prices Index of import prices Australia 110 108 Nigeria 84 Sri Lanka 106 UK 102
A-level Paper 3, June 2025, Q26
If a government operates a fixed exchange rate system it might encounter which of these problems?
AS Paper 2, June 2025, Q5
The table shows the balance of payments position for four countries. Current account Financial and capital (£bn) accounts (£bn) Country A –4587 –4587 Country B –1548 +1548 Country C –2497 +1267 Country D –6472 –7163 Which country has a…
AS Paper 2, June 2025, Q14
The Sterling exchange rate does not have an influence on:
A-level Paper 3, June 2024, Q10
A-level Paper 3, June 2024, Q15
What does the diagram suggest? Surplus Current O Time account Deficit
A-level Paper 3, June 2024, Q23
If Albania were to join the European Union (EU) then tariffs on goods from EU countries such as France would be removed, however tariffs on goods from China would remain. In the diagram the price of the good would fall from P1 to P2 as…
A-level Paper 3, June 2024, Q30
Where would Foreign Aid appear on the current account of the balance of payments?
AS Paper 2, June 2024, Q4
What is the difference between real and nominal values of economic variables?
AS Paper 2, June 2024, Q8
Which of these is most likely to cause an increase in the rate of inflation?
AS Paper 2, June 2024, Q14
Which factor is assumed to be fixed when constructing a short run aggregate supply curve?
A-level Paper 3, June 2023, Q2
A-level Paper 3, June 2023, Q5
The diagram shows the impact of imposing a quota on imports, which causes the price of a good to increase from P1 to P2. Which area(s) represents the net welfare loss to economic agents in the domestic economy from imposing this quota?…
A-level Paper 3, June 2023, Q8
What does a country's terms of trade show?
A-level Paper 3, June 2023, Q30
What is the main role of the World Bank?
AS Paper 2, June 2023, Q8
The table shows components of the balance of payments for a country in 2020. £bn Capital transfers Exports of goods and services Foreign direct investment Imports of goods and services Portfolio investment Primary income Secondary income…
AS Paper 2, June 2023, Q11
The chart shows the Yen to Sterling (£) exchange rate between 2016 and 2019. Yen per £1 190 180 170 160 150 140 130 120 2016 2017 2018 2019 What was the change in the exchange rate between 2016 and 2019?
AS Paper 2, June 2023, Q15
The diagram shows the exchange rate of Sterling (£) to US dollars ($). £/$ exchange rate S S1 P P1 D Q Q1 Quantity of US$ What may have caused the supply curve for US dollars to shift from S to S1?
A-level Paper 3, June 2022, Q5
The table below shows the output of corn and golf clubs Country X and Country Y could produce if they used all of their resources to produce one of these goods. What can be concluded about Country X from the data? Corn Golf clubs Country X…
A-level Paper 3, June 2022, Q11
What is one of the key roles of the financial sector?
A-level Paper 3, June 2022, Q16
An individual going on holiday to Spain exchanges £100 into euros when the exchange rate was 1.26 euros to 1 pound. They spend 82 euros and when they return from holiday exchange what they have left into pounds. By this point the exchange…
A-level Paper 3, June 2022, Q23
What is most likely to cause the international price competitiveness of a country's goods and services to decrease?
A-level Paper 3, June 2022, Q30
What is the most likely impact of a policy decision to reduce the amount of protectionism in a country?
AS Paper 2, June 2022, Q2
What type of policy is deregulation?
AS Paper 2, June 2022, Q4
Which of the following may lead to a UK balance of payments current account deficit?
AS Paper 2, June 2022, Q6
The table shows the value of imports and exports for a country in 2019. £bn Imports of goods 740 Imports of services 275 Exports of goods 545 Exports of services 950 What was the balance of trade in goods?
AS Paper 2, June 2022, Q11
The exchange rate at the start of 2020 was £1 = $2. By the end of the year, the pound appreciated by 50% against the dollar. If a UK firm sells £10 000 of products to the USA, how many dollars will it receive after the currency…
AS Paper 2, June 2022, Q12
Which of the following is a component of the current account?
A-level Paper 3, October 2021, Q7
Which form of economic integration describes a situation in which there is free trade between members who set common external tariffs but each have different currencies?
A-level Paper 3, October 2021, Q16
The table below outlines how import and export prices in a country have changed over time. How much has the country's terms of trade increased by between 2000 and 2020? Year Price index of exports Price index of imports 2000 103 117 2020…
A-level Paper 3, October 2021, Q21
What is the most likely impact of an exchange rate appreciation?

Question text is quoted from the question papers, © OCR (Oxford Cambridge and RSA), 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.

Essay questions on international trade and exchange rates

Data response questions on international trade and exchange rates

Short answer questions on international trade and exchange rates

Multiple choice questions

More OCR topics: The global economy