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Centre Number Candidate Number
Pearson Edexcel International Advanced Level
Tuesday 4 June 2024
Afternoon (Time: 2 hours) Paper
reference WEC14/01
Economics ■ ■
International Advanced Level
UNIT 4: Developments in the global economy
You must have: Total Marks
Source Booklet (enclosed)
Instructions
•• Use black ink or ball-point pen.
Fill in the boxes at the top of this page with your name,
• Answer
centre number and candidate number.
ALL questions in Section A and Section B.
•• Answer TWO questions in Section C.
Answer the questions in the spaces provided
– there may be more space than you need.
Information
•• The total mark for this paper is 80.
The marks for each question are shown in brackets
– use this as a guide as to how much time to spend on each question.
• Calculators may be used.
Advice
•• Read each question carefully before you start to answer it.
Check your answers if you have time at the end.
Pearson Edexcel International Advanced Level International Advanced Level UNIT 4: Developments in the global economy QP June 2024
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Questions must be answered with a cross in a box . If you change your mind about an answer,
put a line through the box and then mark your new answer with a cross .
1 Which one of the following best describes the role of the World Bank?
A To maintain exchange rate stability by ensuring international monetary
cooperation between countries
B To provide loans to countries that experience temporary current account
deficits on their balance of payments
C To resolve trade disputes between countries and set the rules of trade
D To promote economic development through poverty reduction programmes
(Total for Question 1 = 1 mark)
2 The Government of Hungary operates an income tax system in which the proportion
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of income paid in tax by individuals remains constant as incomes increase.
Which one of the following can be deduced from this information?
A Hungary has a progressive tax system
B Hungary has a regressive tax system
C Hungary has a proportional tax system
D Hungary has a specific tax system
(Total for Question 2 = 1 mark)
3 In 2018 the UK Government introduced tariffs on imported steel. In 2022 it decided to
maintain these tariffs until 2024.
Which one of the following is the most likely reason why the UK Government
maintained these tariffs until 2024?
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A To increase the level of unemployment in the UK steel industry
B To prevent dumping of steel in the UK from foreign countries
C To protect transnational companies supplying steel to the UK
D To decrease government revenue from tariffs on imported steel
(Total for Question 3 = 1 mark)
2
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, 4 In 2021 Tanzania’s index of export prices was 142.3 and its index of import prices
was 121.3.
Which one of the following was Tanzania’s terms of trade in 2021?
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A 21.0
B 85.2
C 117.3
D 263.6
(Total for Question 4 = 1 mark)
5 The table shows selected economic data in 2021 for Chile and Uruguay.
Human Gross National
Mean years of schooling Life expectancy
Development Income per capita
(adults over 25 years old) at birth (years)
Index (HDI) value (2017 PPP)
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Chile 0.855 10.9 78.9 $24 563
Uruguay 0.809 9.0 75.4 $21 269
Which one of the following statements can be deduced from the data in the table?
A Literacy rates must be higher in Uruguay than in Chile
B Uruguay is less economically developed than Chile
C Average incomes are higher in Uruguay than in Chile
D Uruguay has better provision of healthcare than Chile
(Total for Question 5 = 1 mark)
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3
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