Oxford Cambridge and RSA
Monday 19 May 2025 – Morning
AS Level Economics
H060/02 Macroeconomics
Time allowed: 1 hour 30 minutes
You can use:
* 1 3 2 9 5 3 0 7 7 3 *
• a scientific or graphical calculator
* H 0 6 0 0 2 *
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. You can use extra paper if
you need to, but you must clearly show your candidate number, the centre number and
the question numbers.
• Answer all the questions in Sections A and B and one question in Section C.
INFORMATION
• The total mark for this paper is 60.
• 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 16 pages.
ADVICE
• Read each question carefully before you start your answer.
© OCR 2025 [601/4801/9] OCR is an exempt Charity
DC (ST/CB) 335663/4 Turn over
, 2
Section A
Write your answer to each question in the box provided.
1 What might cause a fall in unemployment?
A An increase in the minimum wage
B An increase in the rate of income tax
C An increase in the working population
D An increase in unemployment benefits
Your answer [1]
2 Which target is set for the Bank of England?
A Exchange rate
B Inflation
C Interest rate
D National debt
Your answer [1]
3 In which sector does an insurance company operate?
A Primary
B Quaternary
C Secondary
D Tertiary
Your answer [1]
4 What is meant by the government budget?
A Balance between government receipts and expenditure
B Decisions made by the government about expenditure and receipts
C Government expenditure is greater than government receipts
D Government receipts are greater than government expenditure
Your answer [1]
© OCR 2025
, 3
5 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 sustainable balance of payments position?
A Country A
B Country B
C Country C
D Country D
Your answer [1]
6 The table shows the percentage change in real GDP during the year ending Quarter 1 2022.
Change in real
GDP (%)
UK 10.6
USA 3.7
Japan 0.6
Germany 3.5
France 4.8
Eurozone 5.5
G7 4.0
OECD 4.6
Which statement is true?
A Eurozone GDP growth was 4.9% percentage points lower than Japan
B France was the fastest growing economy
C The UK’s GDP growth was 5.8 percentage points higher than France
D The USA had the lowest GDP growth
Your answer [1]
© OCR 2025 Turn over
, 4
7 What would cause the long run aggregate supply curve to shift to the right?
A Decrease in employment levels
B Decrease in productivity
C Increase in investment
D Increase in wages
Your answer [1]
8 What is the definition of full employment?
A All those of working age are working at the going wage rate
B All those willing and able to work can find a job at the going wage rate
C Some of those able to work are not accepting a job at the going wage rate
D Some of those willing to work are not able to find a job at the going wage rate
Your answer [1]
9 The diagram shows trade as a percentage of GDP for selected countries.
60%
United Kingdom
50%
40%
China
30%
United States
20%
10%
0%
1980 1985 1990 1995 2000 2005 2010 2015 2020
What is the change in trade as a percentage of GDP for China from 1980 to 2020?
A Approximately a five times increase
B Approximately a four times increase
C Approximately a three times increase
D Approximately a two times increase
Your answer [1]
© OCR 2025
Monday 19 May 2025 – Morning
AS Level Economics
H060/02 Macroeconomics
Time allowed: 1 hour 30 minutes
You can use:
* 1 3 2 9 5 3 0 7 7 3 *
• a scientific or graphical calculator
* H 0 6 0 0 2 *
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. You can use extra paper if
you need to, but you must clearly show your candidate number, the centre number and
the question numbers.
• Answer all the questions in Sections A and B and one question in Section C.
INFORMATION
• The total mark for this paper is 60.
• 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 16 pages.
ADVICE
• Read each question carefully before you start your answer.
© OCR 2025 [601/4801/9] OCR is an exempt Charity
DC (ST/CB) 335663/4 Turn over
, 2
Section A
Write your answer to each question in the box provided.
1 What might cause a fall in unemployment?
A An increase in the minimum wage
B An increase in the rate of income tax
C An increase in the working population
D An increase in unemployment benefits
Your answer [1]
2 Which target is set for the Bank of England?
A Exchange rate
B Inflation
C Interest rate
D National debt
Your answer [1]
3 In which sector does an insurance company operate?
A Primary
B Quaternary
C Secondary
D Tertiary
Your answer [1]
4 What is meant by the government budget?
A Balance between government receipts and expenditure
B Decisions made by the government about expenditure and receipts
C Government expenditure is greater than government receipts
D Government receipts are greater than government expenditure
Your answer [1]
© OCR 2025
, 3
5 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 sustainable balance of payments position?
A Country A
B Country B
C Country C
D Country D
Your answer [1]
6 The table shows the percentage change in real GDP during the year ending Quarter 1 2022.
Change in real
GDP (%)
UK 10.6
USA 3.7
Japan 0.6
Germany 3.5
France 4.8
Eurozone 5.5
G7 4.0
OECD 4.6
Which statement is true?
A Eurozone GDP growth was 4.9% percentage points lower than Japan
B France was the fastest growing economy
C The UK’s GDP growth was 5.8 percentage points higher than France
D The USA had the lowest GDP growth
Your answer [1]
© OCR 2025 Turn over
, 4
7 What would cause the long run aggregate supply curve to shift to the right?
A Decrease in employment levels
B Decrease in productivity
C Increase in investment
D Increase in wages
Your answer [1]
8 What is the definition of full employment?
A All those of working age are working at the going wage rate
B All those willing and able to work can find a job at the going wage rate
C Some of those able to work are not accepting a job at the going wage rate
D Some of those willing to work are not able to find a job at the going wage rate
Your answer [1]
9 The diagram shows trade as a percentage of GDP for selected countries.
60%
United Kingdom
50%
40%
China
30%
United States
20%
10%
0%
1980 1985 1990 1995 2000 2005 2010 2015 2020
What is the change in trade as a percentage of GDP for China from 1980 to 2020?
A Approximately a five times increase
B Approximately a four times increase
C Approximately a three times increase
D Approximately a two times increase
Your answer [1]
© OCR 2025
