Aqa
OCR
Oxford Cambridge and RSA
Monday 5 June 2023 – Morning
A Level Economics
H460/03 Themes in economics
Time allowed: 2 hours
You can use:
a scientific or graphical calculator
Please write clearly in black ink. Do not write in the barcodes.
Centre number Candidate number
First name(s)
Last name
INSTRUCTIONS
• Use black ink. You can use an HB pencil, but only for graphs and diagrams.
• Write your answer to each question in the space provided. If you need extra
space use the lined pages at the end of this booklet. The question numbers
must be clearly shown.
• Answer all the questions.
INFORMATION
• The total mark for this paper is 80.
• The marks for each question are shown in brackets [ ].
• Quality of extended response will be assessed in questions marked with an
asterisk (*).
• This document has 28 pages.
ADVICE
• Read each question carefully before you start your answer.
© OCR 2023 [601/4799/4] DC (ST/JG)
,308773/6
OCR is an exempt
Charity Turn over
, SECTION A
Write your answer to each question in the box
provided.
1 What would a shift in the long run aggregate supply curve to the right be most likely
to cause?
A A decrease in the level of income inequality
B A decrease in the rate of inflation
C An increase in the current account deficit
D An increase in unemployment
Your answer [1]
2 A Central Bank is operating a fixed exchange rate.
What intervention can it take to prevent the value of the currency falling?
A Decreasing the interest rate
B Imposing tariffs
C Quantitative easing
D Selling foreign currency reserves
Your answer [1]
, 3 A firm is producing Q1 units of output at a price of P1 in the
diagram below. What objective is it likely to be pursuing?
Costs and
revenues MC
AC
P1
AR
0
Outpu
t
Q1
MR
A Profit maximisation
B Profit satisficing
C Sales revenue maximisation
D Sales volume maximisation
Your answer [1]
4 650 units of a good are demanded by consumers. If the income elasticity of demand
is 0.4, what will the new quantity demanded of the good be if income decreases by
3%?
A 601 units
B 631 units
C 642 units
D 658 units
Your answer [1]
OCR
Oxford Cambridge and RSA
Monday 5 June 2023 – Morning
A Level Economics
H460/03 Themes in economics
Time allowed: 2 hours
You can use:
a scientific or graphical calculator
Please write clearly in black ink. Do not write in the barcodes.
Centre number Candidate number
First name(s)
Last name
INSTRUCTIONS
• Use black ink. You can use an HB pencil, but only for graphs and diagrams.
• Write your answer to each question in the space provided. If you need extra
space use the lined pages at the end of this booklet. The question numbers
must be clearly shown.
• Answer all the questions.
INFORMATION
• The total mark for this paper is 80.
• The marks for each question are shown in brackets [ ].
• Quality of extended response will be assessed in questions marked with an
asterisk (*).
• This document has 28 pages.
ADVICE
• Read each question carefully before you start your answer.
© OCR 2023 [601/4799/4] DC (ST/JG)
,308773/6
OCR is an exempt
Charity Turn over
, SECTION A
Write your answer to each question in the box
provided.
1 What would a shift in the long run aggregate supply curve to the right be most likely
to cause?
A A decrease in the level of income inequality
B A decrease in the rate of inflation
C An increase in the current account deficit
D An increase in unemployment
Your answer [1]
2 A Central Bank is operating a fixed exchange rate.
What intervention can it take to prevent the value of the currency falling?
A Decreasing the interest rate
B Imposing tariffs
C Quantitative easing
D Selling foreign currency reserves
Your answer [1]
, 3 A firm is producing Q1 units of output at a price of P1 in the
diagram below. What objective is it likely to be pursuing?
Costs and
revenues MC
AC
P1
AR
0
Outpu
t
Q1
MR
A Profit maximisation
B Profit satisficing
C Sales revenue maximisation
D Sales volume maximisation
Your answer [1]
4 650 units of a good are demanded by consumers. If the income elasticity of demand
is 0.4, what will the new quantity demanded of the good be if income decreases by
3%?
A 601 units
B 631 units
C 642 units
D 658 units
Your answer [1]
