Oxford Cambridge and RSA
Monday 20 May 2024 – Morning
AS Level Economics
H060/02 Macroeconomics
Time allowed: 1 hour 30 minutes
You can use:
* 9 8 8 2 8 2 3 6 2 5 *
• a scientific or graphical calculator
• an HB pencil
* 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 2024 [601/4801/9] OCR is an exempt Charity
DC (PQ/CGW) 318806/6 Turn over
, 2
SECTION A
Write your answer to each question in the box provided.
1 A government budget deficit occurs when:
A imports exceed exports
B its expenditure is less than its revenue
C its expenditure is more than its revenue
D the national debt is decreasing
Your answer [1]
2 What is not an example of a supply side policy?
A Increasing expenditure on education
B Increasing the rate of income tax
C Investing in road infrastructure
D Providing subsidies for research and development
Your answer [1]
3 What would be the least effective way to increase long run economic growth?
A Increase government expenditure on welfare payments
B Increase labour productivity
C Increase the level of technology
D Increase the number of women joining the workforce
Your answer [1]
© OCR 2024
, 3
4 What is the difference between real and nominal values of economic variables?
A The exchange rate
B The inflation rate
C The interest rate
D The tax rate
Your answer [1]
5 Which stage of the economic cycle occurs when actual GDP is above its trend value?
A Boom
B Recession
C Recovery
D Trough
Your answer [1]
6 In 2022, a basket of goods and services cost £1350.
In 2023, the same basket cost £1674.
What is the value of the price index for 2023 based on 2022 being the base year?
A 48
B 81
C 124
D 193
Your answer [1]
© OCR 2024 Turn over
Monday 20 May 2024 – Morning
AS Level Economics
H060/02 Macroeconomics
Time allowed: 1 hour 30 minutes
You can use:
* 9 8 8 2 8 2 3 6 2 5 *
• a scientific or graphical calculator
• an HB pencil
* 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 2024 [601/4801/9] OCR is an exempt Charity
DC (PQ/CGW) 318806/6 Turn over
, 2
SECTION A
Write your answer to each question in the box provided.
1 A government budget deficit occurs when:
A imports exceed exports
B its expenditure is less than its revenue
C its expenditure is more than its revenue
D the national debt is decreasing
Your answer [1]
2 What is not an example of a supply side policy?
A Increasing expenditure on education
B Increasing the rate of income tax
C Investing in road infrastructure
D Providing subsidies for research and development
Your answer [1]
3 What would be the least effective way to increase long run economic growth?
A Increase government expenditure on welfare payments
B Increase labour productivity
C Increase the level of technology
D Increase the number of women joining the workforce
Your answer [1]
© OCR 2024
, 3
4 What is the difference between real and nominal values of economic variables?
A The exchange rate
B The inflation rate
C The interest rate
D The tax rate
Your answer [1]
5 Which stage of the economic cycle occurs when actual GDP is above its trend value?
A Boom
B Recession
C Recovery
D Trough
Your answer [1]
6 In 2022, a basket of goods and services cost £1350.
In 2023, the same basket cost £1674.
What is the value of the price index for 2023 based on 2022 being the base year?
A 48
B 81
C 124
D 193
Your answer [1]
© OCR 2024 Turn over
