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    Structured Questions Economic Growth (Chapters 24,25,29) 1

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    eddie zhang

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    Structured Questions Economic Growth (Chapters 24,25,29) 1

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    eddie zhang
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    Download as docx, pdf, or txt
    1 views1 page

    Structured Questions Economic Growth (Chapters 24,25,29) 1

    Uploaded by

    eddie zhang

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    Complete 2 questions from this section:

    1. In 2018, the Brazilian government set out the aim of achieving full employment of the
    population to help the country’s economy grow. Experts had stated they country has too often
    fallen short of its potential growth. One of the reasons given for this has been an over-reliance
    on natural monopolies, particularly in the water and electrical industries. Another suggested
    reason was the governments lower than average support of those stuck in poverty.

    (a) Define full employment

    (b) Explain the difference between actual economic growth and potential economic growth.

    (c) Analyse the potential advantages of a government having a natural monopoly.

    (d) Discuss whether or not and increase in transfer payments will result economic growth.

    2. The Covid-19 pandemic has had a major impact on the level of economic growth in different
    countries around the world. Aggregate demand has fallen as consumers have limited their
    purchasing and firms have been unwilling to invest. In 2022 the economy of the UK went into
    recession as its real GDP fell for two consecutive quarters after leaving the European Union
    trade bloc.

    (a) Define aggregate demand.

    (b) Explain the difference between economic growth and recession

    (c) Analyse why a government would want to be involved in a trade bloc.

    (d) Discuss whether economic growth benefits workers.

    3. Several Scandinavian countries have shifted their focus towards developing more sustainable
    economic growth. This is to be achieved through the implementation of new technologies in
    several industries, though there is an acceptance this may result in job loses as the economy
    adjusts. Some of these technologies are to be developed domestically, while others are to be
    brought in from trading partners across Europe.

    (a) Define sustainable economic growth.

    (b) Explain TWO consequences of economic growth.

    (c) Analyse, using a PPC, the impact of new technology on economic growth.

    (d) Discuss whether or not increased imports can benefit an economy.

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