A-LevelEconomicsMacroeconomic Objectives and Policies / InflationMay/June 2020Paper 1 Q231 Mark
According to US Consumer Prices Index (CPI) statistics, an identical good that cost $100 in 1913 would cost $2359.60 in 2013. What was the approximate cumulative rate of inflation over the period?
A23%
B230%
C2300%
D23000%
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of macroeconomic objectives and policies / inflation within the Economicssyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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