AQA A Level Economics Paper 3: Economic principles and issues June 2017 question paper 7136/3

Economic decision making and policies are influenced by value judgements

The diagram below shows the original market demand and supply curves

The government wishes to meet its energy efficiency target by shifting the market demand curve for loft insulation from D₁ to D₂. Which one of the following policies is most likely to enable the government to achieve its objective?

The law of diminishing marginal utility states that

The diagram below shows the market for bricklayers.

The original equilibrium wage is W₁ and the number of bricklayers employed is N₁. Which one of the following events is most likely to increase the wage paid to bricklayers to W₂ and increase employment to N₂?

A firm employs three factors of production: capital, land and labour. The table below

The firm experiences constant returns to scale when it increases its output from

The table below shows possible differences between the meanings of the terms

The table below shows the output, average total cost and average revenue for a

At which one of the following levels of output will the firm maximise its profits?

The diagram below shows the cost and revenue curves for a monopoly.

At which one of the following levels of output would the firm be productively efficient?

The marginal revenue product of labour is the

The diagram below shows the demand curves (D₁ and D₂) and the supply curve (S)

The increase in market demand from D₁ to D₂ results in a new market equilibrium at E₂. The market mechanism that leads to the establishment of the new equilibrium is based on

Which one of the following values for the Gini coefficient shows the greatest

The tragedy of the commons can be applied to the fishing industry. What is the

Immobility of labour may lead to a misallocation of resources and market failure

The following table shows the real GDP of an economy from 2012 to 2016.

If the figures were converted to index form with 2013 as the base year, what would be the value of the index (to the nearest whole number) in 2016?

The information below shows the changes in key economic indicators for a country

Which one of the following can be concluded from the data?

Assuming that the value of the marginal propensity to consume is 0.6, which of the

The primary measure of unemployment in the UK is based on the

The diagram below depicts an aggregate demand (AD) curve and two long-run

All other things being equal, the movement of the economy from its initial equilibrium at E₁ to E₂ is most likely to be caused by an increase in

The diagram below represents the market for unskilled agricultural labourers where

representing agricultural labourers has negotiated a minimum wage of OW_min for its

The effect of implementing a minimum wage of OW_min is that

A bank makes a new loan to a customer. All other things being equal, which

A government issued bond has a nominal value of £100 and the annual coupon is

Which one of the following combinations, A, B, C or D, best distinguishes between

The table below shows the marginal income tax rates in an economy for 2016.

Table: Marginal income tax rates for every $1 of income

How much income tax would be payable by someone earning $40 000 in 2016?

The national debt is the

The table below shows how much of each of two products can be produced by

Which one of the following statements is correct?

A country has a Human Development Index of 0.91. This country is most likely to

The table below shows the Consumer Prices Index for a country over a number of

Which one of the following can be concluded from the table?

The diagram below shows the aggregate demand (AD) and two short-run

All other things being equal, which one of the following is most likely to cause the short-run aggregate supply curve to shift from SRAS₁ to SRAS₂?

The diagram below shows the marginal private and social benefit (MPB and MSB)

where there are positive externalities in production.

At the free market equilibrium, market failure occurs. Which one of the following is correct?

The price elasticity of demand for games consoles is -1.2. It can be concluded that

Turn over for Section B

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