Economics 9708/42 — October/November 2020
Cambridge A-Level · A Level Data Response and Essays · worked solutions for every part, with the mark scheme
Topics Economic Growth and Sustainability · Wage Determination and Labour Market Intervention · Objectives and Pricing Policies of Firms · Macroeconomic Objectives and Policy Conflicts · Externalities, Social Costs and Benefits · Efficiency and Market Failure · +11 more
The economy of Uruguay
Uruguay, a country of 3.5 million people, had a gross domestic product (GDP) per capita of US$20 000 in 2017 and was ranked at 63rd in the world.
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Identify two economic policies the Uruguayan government has introduced that should increase economic growth.
Explain how these policies should increase Uruguay’s economic growth.
The information states that in Uruguay there is a national minimum wage.
Using a diagram, discuss the likely effects of the introduction of a national minimum wage on labour markets.
Using Figs. 1.1 to 1.4, comment on the macroeconomic performance of Uruguay.
The rest of this paper
6 more questions- Q2Externalities, Social Costs and Benefits · Efficiency and Market Failure · Government Policies to Correct Market Failure25M
- Q3Costs of Production · Revenue and Profit · Growth and Survival of Firms · Market Structures · Objectives and Pricing Policies of Firms25M
- Q4Demand for and Supply of Labour · Wage Determination and Labour Market Intervention · Objectives and Pricing Policies of Firms25M
- Q5Employment and Unemployment · Effectiveness of Macroeconomic Policies25M
- Q6Relationships Between Countries at Different Levels of Development · Economic Growth and Sustainability25M
- Q7Economic Growth and Sustainability · Economic Development and Living Standards · Characteristics of Countries at Different Levels of Development25M