A-LevelEconomicsExchange RatesMay/June 2016Paper 1 Q231 Mark
The following exchange rates were recorded in the foreign exchange market. £1 = €1.208 $1 = €0.727 €1 = $1.375 Within which range of values should £1 exchange for $?
A£1=less than $0.50
B£1=between $0.50 and $1
C£1=between $1 and $1.50
D£1=more than $1.50
✓ Correct Answer
The correct answer is D: £1=more than $1.50
📋 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...
🎯 Mark Scheme Breakdown
Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.
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