,(a) (i) With reference to Figure 1, explain how the growth rate in the third quarter of
2012 can be “the strongest in five years” (Extract 1, line 2) while the economy is
“smaller than it was before the financial crisis hit in 2008” (Extract 1, line 3).
(6)
(ii) With reference to Extract 1 and your own knowledge, explain two
likely benefits of economic growth.
(8)
(iii) Using the concept of the multiplier, assess the contribution of “one-off
factors such as the Queen’s Diamond Jubilee and the London Olympics”
(Extract 1, lines 3 and 4) to economic growth.
(12)
(b) (i) Explain how ‘UK ILO unemployment’ (Extract 2, line 1) is measured.
(4)
(ii) Explain two possible problems for the UK economy of 35% of the unemployed
being “out of work for more than 12 months” (Extract 2, lines 5 – 6).
(8)
*(iii) According to Extract 2 (lines 11 – 12) the UK has a “poorer productivity
performance than the average for developed countries.” Assess the likely
impact of the UK’s relatively poor productivity performance on its economy.
(12)
*(c) With reference to the information provided and your own knowledge, evaluate
the policies that the UK government could adopt to improve productivity.
(30)
3
*P43305A0332* Turn over
, (a) (i) With reference to Figure 1, explain how the growth rate in the third quarter of
2012 can be “the strongest in five years” (Extract 1, line 2) while the economy is
“smaller than it was before the financial crisis hit in 2008” (Extract 1, line 3).
(6)
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