Measuring economic performance: GDP & national income

Do not answer Context 2 if you have answered Context 1.

Using the data in Extract D (Figure 3), calculate the difference between the percentage increase in GDP for Japan and the USA between 2001 and 2023.

Give your answer to one decimal place.

Explain the main limitations of using national income data to assess differences in living standards between countries.

Table 8 shows figures for the population (millions) and GDP ($ billions) of four countries.

What is the mean GDP per capita for the four countries?

Turn over for Section B

Using the data in Extract A, calculate the ratio of the UK’s GDP per hour worked to $1 of GDP per hour worked in Hungary.

Give your answer to two decimal places.

Explain how the data in Extract A show that higher productivity may result in higher living standards.

Extract B (lines 4–5) states: ‘Historically, productivity has increased over time, which has contributed to real wage rises and improved living standards.’

Using the data in the extracts and your knowledge of economics, assess the view that the government should make raising productivity a priority in order to improve living standards in the UK.

Do not answer Context 2 if you have answered Context 1.

Using the data in Extract D, calculate the percentage change in Vietnam’s GDP per capita between the years 2010 and 2021. Give your answer to one decimal place.

Explain how the data in Extract D show that Vietnam may have outperformed the other selected Southeast Asian economies between 2010 and 2021.

To what extent, if at all, do the data suggest that people living in the South East (SE) of England are better off than people living in the North East (NE) of England?

Explain how the data in Extract A (Figure 2), show that Ireland’s economy performed better than the economies of France and Spain in 2021.

Explain how the data in Extract D (Figure 4), show that the growth in quantitative easing (shown in Figure 3) may have been successful in helping the UK achieve its macroeconomic objectives since 2009.

Evaluate the view that economic growth usually leads to an improvement in living standards.

The change in nominal national income per head is an unsatisfactory indicator of the change in the living standards of a country’s citizens over a period of time. The main reason is that nominal national income per head does not take into account

To what extent, if at all, do the data suggest that the Sri Lankan economy is more economically developed than the economies of Bangladesh and Pakistan?

Do not answer Context 2 if you have answered Context 1.

Using the data in Extract D (Figure 3), calculate the difference between the UK’s and Argentina’s mean unemployment rates over the period 2015 to 2018.

Give your answer to two decimal places.

When using data to make international comparisons of the standard of living, purchasing power parity (PPP) exchange rates are more useful than market exchange rates.

This is because PPP exchange rates take into account differences in countries’

Using the data in Extract A (Figure 1), calculate the mean unemployment rate for the UK from 2007–08 to 2017–18. Give your answer to one decimal place.

To what extent, if at all, do the data suggest that living standards in the UK improved between 2007 and 2017? You must use the data in Extract B to support your assessment.

Using the data in Extract A, calculate the GDP per capita for Costa Rica in 2015/2016 to the nearest dollar.

Explain how the data in Extract A indicate living standards may be higher in the UK than in the USA.

Extract B (lines 13–15) states ‘If real GDP goes up, the economy is doing well; this is associated with higher incomes, more jobs and higher spending.’

Using the data in the extracts and your knowledge of economics, assess the view that to improve the living standards of their citizens, governments across the world should prioritise achieving economic growth.

An economy had a 3% increase in its real GDP over a one year period. In the same period its population grew by 5% and its rate of inflation was 2.5%. From these data it can

Assess the view that falling unemployment will inevitably lead to an improvement in the standard of living for people in the UK.

Using the data in Extract A (Figure 2), calculate, to two decimal places, the mean growth rate for India from 2010 to 2014.

Explain why the data in Extract A (Figure 1) show that living standards in India have improved.

Using the data in Extract D (Figure 3), calculate, to two decimal places, the mean inflation rate for Japan from 2010 to 2015.

Explain how the data in Extract D (Figure 4) show that Japan has been less successful than the UK in achieving a stable rate of economic growth.

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

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