A-LevelEconomicsAggregate Demand and Aggregate SupplyFeb/Mar 2023Paper 1 Q211 Mark
The diagram shows the aggregate demand (AD) and long-run aggregate supply (LRAS) curves for a country. X is the original equilibrium position. In one year, over one million foreign workers left the country and at the same time the country's currency appreciated against the currencies of its major trading partners. What will be the most likely new equilibrium position for this country? [Figure: AD-LRAS diagram]
AD
BA
CC
DB
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The correct answer is C. This question tests the candidate's understanding of aggregate demand and aggregate supply within the Economicssyllabus. The examiner's mark scheme requires...
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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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