Memorsing content can only take you so far, so use exam questions effectively to prepare yourself for the actual exam. This document will help you do so, it contains exam questions for this spec point. [A Level Economics Edexcel A, Exam Questions]
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Question 1
Which one of the following is most likely to happen to Argentina’s currency value as a result of capital flight, assuming it is
operating with a floating exchange rate system?
A. Appreciation
B. Depreciation
C. Devaluation
D. Revaluation
[1 mark]
Question 2a
Extract B
Sub‑Saharan Africa is becoming more integrated
After two years of negotiations, representatives of a large number of African countries signed the African Continental Free
Trade Agreement (AfCFTA) in Kigali on March 21, 2018.
This created a trading bloc of 1.2 billion people with a combined gross domestic product of more than US$2 trillion. The
agreement committed countries to removing tariffs on 90% of goods and to liberalise services.
This can be seen as a sign of rapid and steady regional integration. Sub‑Saharan Africa in particular is much more integrated
today than in the past. The level of integration in sub‑Saharan Africa is now similar to that in the world’s other developing and
emerging market economies.
However, the two largest African economies, Nigeria and South Africa, refused to sign the agreement. Nigeria’s
manufacturers and trade unions are concerned about the potential negative impacts of becoming more open to imports
from other African countries with lower labour costs.
Greater interdependence can expose small economies to their partners’ recessions. After nearly 20 years of strong
economic activity, sub‑Saharan Africa experienced the downside of integration in 2015. The collapse in commodity prices
and the slowdown in economic activity in Nigeria and South Africa contributed to sub‑Saharan African growth slowing
sharply. Since 2017 growth has begun to recover. The recovery is mixed, though, and it is unclear to what extent the slow
recovery of the larger economies is still affecting the rest of sub‑Saharan Africa.
(Source adapted from: https://www.imf.org/ and https://www.pulse.ng/)
(a)
Nigeria is considering joining the African Continental Free Trade Agreement. Assess policies the Nigerian government could
use in response to the concerns of the country’s ‘manufacturers and trade unions’ (Extract B paragraph 3) if they join this
trading bloc.
[10 marks]
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