Questions

select category from menu

News


Gender pay gap

80% of UK companies and public sectors organisations pay women less than men.

Read more

National income

Question 1

  1. What is meant by 'value added'?

  2. Distinguish between nominal and real national income.

  3. Define GDP per head.

  4. Calculate the real growth rate for a country,  as an annual %, if in a given year the value of nominal income rises from $800b to $850, and the index of inflation rises to 104 during that year - assume it started the year at 100.

Question 2

Consider the data of the National Income, inflation and population of a hypothetical economy.

YEAR NOMINAL GDP $B INFLATION INDEX POPULATION (M)
2014 790 100 40
2015 870 107 41
2016 940 118 42
2017 1000 122 43

  1. What is the base year?

  2. What was the value of Y in real terms in 2016 compared with the base year?

  3. Calculate real Y per head in 2015.

  4. Describe and comment on the state of the economy in 2014 in comparison with 2017.


WTO rules

What exactly is the 'most favoured nation' rule?

Read more
Read more
Model agencies collude to fix rates

Regulators find leading model agencies guilty of price fixing.

Read more
Customs unions

Costs and benefits of customs unions.

Read more
New materials

Multiple choice papers for Paper Three.

Read more
Savings ratio

Savings ratio falls to lowest level on record.

Read more