OCR · Macroeconomics · Macroeconomic objectives and policy

OCR Economics past paper questions: Macroeconomic objectives and policy

Every OCR question on Macroeconomic objectives and policy from 2021 to 2025: 7 essays, 7 data response questions, 6 short answer questions and 19 multiple choice questions. It covers Aggregate demand, Government intervention in markets, International trade and exchange rates, Measuring economic performance and Public finances and the role of the state. Each question links to its paper, mark scheme and examiner report.

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SubtopicsAggregate demand 7Government intervention in markets 7International trade and exchange rates 7Measuring economic performance 4Public finances and the role of the state 3Economic growth and the economic cycle 2The financial sector 2Competition policy and regulation 2The labour market 1Poverty and inequality 1Business growth and objectives 1

Essay questions on macroeconomic objectives and policy

A-level Paper 2, June 2024, Q2OptionalEvaluate25 marks

Evaluate, with the use of an appropriate diagram(s), whether advances in technology will help a government to achieve its macroeconomic policy objectives.

Question paper p.9 Mark scheme p.19 Examiner report p.2 Open in the tool Draw it: AD/AS diagram

A-level Paper 2, June 2024, Q4OptionalEvaluate25 marks

Evaluate whether fiscal policy can reduce poverty.

Question paper p.13 Mark scheme p.26 Examiner report p.2 Open in the tool

A-level Paper 2, June 2024, Q5Optional25 marks

In 2021, the Economic Affairs Committee of the House of Lords in the UK published a report which questioned whether the Bank of England was addicted to using quantitative easing as a monetary policy measure. Evaluate whether quantitative easing is an effective monetary policy measure.

Question paper p.13 Mark scheme p.26 Examiner report p.2 Open in the tool Practise the AD/AS diagram

A-level Paper 2, June 2023, Q4OptionalEvaluate25 marks

Evaluate the effectiveness of using supply side policy measures to reduce poverty.

Question paper p.12 Mark scheme p.26 Examiner report p.2 Open in the tool

AS Paper 2, June 2023, Q17OptionalEvaluate20 marks

Evaluate, using an appropriate diagram(s), the effects of a change in interest rates on the Australian government's ability to achieve macroeconomic objectives.

Question paper p.16 Mark scheme p.17 Examiner report p.2 Open in the tool Draw it: AD/AS diagram

A-level Paper 1, June 2022, Q4OptionalEvaluate25 marks

Evaluate whether governments should finance large infrastructure projects such as Crossrail.

Question paper p.13 Mark scheme p.24 Examiner report p.2 Open in the tool

A-level Paper 2, June 2022, Q2OptionalEvaluate25 marks

Evaluate, with the use of an appropriate diagram(s), whether the Phillips curve is useful for economic policy makers.

Question paper p.8 Mark scheme p.19 Examiner report p.2 Open in the tool Draw it: Phillips curve diagram

Data response questions on macroeconomic objectives and policy

A-level Paper 2, June 2025, Q1(f)12 marks

Case study: What is the future for Bolivia?

Using information from the stimulus material, evaluate whether Bolivia's income tax revenue is likely to increase in the future.

Question paper p.7 Mark scheme p.17 Examiner report p.2 Open in the tool

A-level Paper 2, June 2024, Q1(e)8 marks

Case study: Changing economic conditions in Kenya

Using information from the stimulus material, evaluate whether the increase in Kenya's government spending is likely to increase the government's budget deficit.

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

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

Case study: International competitiveness

Using information from the stimulus material, identify two causes of an increase in the money supply. 1 2

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

AS Paper 2, June 2023, Q16(a)3 marks

Using Fig. 1, explain the difference between the government budget deficit and the national debt.

Question paper p.12 Mark scheme p.13 Examiner report p.2 Open in the tool

AS Paper 2, June 2023, Q16(d)4 marks

Using information from the case study, explain the difference between government current expenditure and government capital expenditure.

Question paper p.13 Mark scheme p.14 Examiner report p.2 Open in the tool

A-level Paper 1, October 2021, Q1(c)2 marks

Case study: The UK air travel sector

Using Table 2, explain the concept of utility.

Question paper p.4 Mark scheme p.4 Open in the tool

A-level Paper 2, October 2021, Q1(f)12 marks

Case study: Are we moving towards a cashless society?

Using information from the stimulus material, evaluate whether a negative interest rate would help the government achieve its macroeconomic objectives.

Question paper p.6 Mark scheme p.8 Open in the tool Practise the AD/AS diagram

Short answer questions on macroeconomic objectives and policy

AS Paper 2, June 2025, Q16(d)4 marks

Using the case study, explain two supply side policies the UK government could use to help farmers with rising costs. 1 2

Question paper p.11 Mark scheme p.18 Examiner report p.2 Open in the tool

A-level Paper 3, June 2024, Q36Evaluate15 marks

Evaluate, using the information in Extract 2, whether increasing the interest rate was an effective way to combat rising inflation.

Question paper p.22 Mark scheme p.25 Examiner report p.3 Open in the tool Practise the AD/AS diagram

A-level Paper 3, June 2022, Q36Evaluate8 marks

Evaluate, using the information in Extract 2, whether subsidising research and development in 'left behind regions' would be the most effective macroeconomic policy option for the government to achieve its objective of a more even distribution of income.

Question paper p.24 Mark scheme p.29 Examiner report p.2 Open in the tool

AS Paper 2, June 2022, Q16(a)(ii)2 marks

Line 29 refers to "...unfilled jobs in IT related occupations." Explain one supply side policy the Japanese government could implement to reduce the number of unfilled jobs.

Question paper p.8 Mark scheme p.23 Open in the tool

AS Paper 2, June 2022, Q16(b)(i)1 mark

Using Fig. 2, state what has happened to Japan's interest rate between 2017 and 2019.

Question paper p.8 Mark scheme p.13 Open in the tool

AS Paper 2, June 2022, Q16(b)(ii)2 marks

Other than interest rates, explain one expansionary monetary policy that Japan's central bank could use.

Question paper p.8 Mark scheme p.13 Open in the tool

Multiple choice questions

A-level Paper 3, June 2025, Q11
Which components of aggregate demand (AD) could a change in interest rates affect?
A-level Paper 3, June 2025, Q14
Workers spend 90% of an increase in their income. What is most likely to explain this significant increase in their consumption?
A-level Paper 3, June 2025, Q19
Which of these is an example of a supply side policy?
A-level Paper 3, June 2025, Q30
The financial regulator increases the reserve ratio imposed on banks. How might this affect market interest rates?
AS Paper 1, June 2025, Q1
Whose objective is it to raise tax revenue?
AS Paper 2, June 2025, Q2
Which target is set for the Bank of England?
AS Paper 2, June 2025, Q4
What is meant by the government budget?
AS Paper 2, June 2025, Q10
Crowding out occurs when:
AS Paper 2, June 2025, Q12
Which policy is likely to include an increase in the money supply?
A-level Paper 3, June 2024, Q4
Which of these describes the process of crowding out?
AS Paper 2, June 2024, Q1
AS Paper 2, June 2024, Q7
What is an example of a contractionary monetary policy?
A-level Paper 3, June 2023, Q20
What is most likely to cause a decrease in the size of the national income multiplier?
AS Paper 2, June 2023, Q1
Which of these is a tool of monetary policy?
AS Paper 2, June 2023, Q4
Competition policy is an example of:
A-level Paper 3, June 2022, Q8
The diagram below shows the value of a country's currency. What is most likely to have caused the change illustrated here? Exchange rate S1 S2 P1 P2 D1 0 Q1 Q2 Quantity of currency
A-level Paper 3, June 2022, Q13
What is one of the stages in the process of calculating the rate of inflation in the UK?
AS Paper 2, June 2022, Q5
If government spending increases significantly during a recession, it may cause a:
A-level Paper 3, October 2021, Q10
What indicates a structural budget deficit?

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 macroeconomic objectives and policy

Data response questions on macroeconomic objectives and policy

Short answer questions on macroeconomic objectives and policy

Multiple choice questions

More OCR topics: Macroeconomics