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Title: Edexcel a level economics a question paper 2 june 2024 + mark scheme
Description: Mark Scheme (Results) Summer 2024 Pearson Edexcel GCE A Level In Economics A (9EC0) Paper 02 The National and Global Economy
Description: Mark Scheme (Results) Summer 2024 Pearson Edexcel GCE A Level In Economics A (9EC0) Paper 02 The National and Global Economy
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Edexcel a level
economics a question
paper 2 june 2024 +
mark scheme
Please check the examination details below before entering your candidate information
Candidate surname
Centre Number
Other names
Candidate Number
Pearson Edexcel Level 3 GCE
Monday 20 May 2024
Afternoon (Time: 2 hours)
Paper
reference
Economics A
9EC0/02
Advanced
PAPER 2: The National and Global Economy
You do not need any other materials
...
•
in the boxes at the top of this page with your name,
• Fill
centre number and candidate number
...
Answer all questions
• There
from Section A and Section B
...
the questions in the spaces provided
• Answer
– there may be more space than you need
...
•
marks for each question are shown in brackets
• The
– use this as a guide as to how much time to spend on each question
...
Advice
Read each question carefully before you start to answer it
...
Turn over
P74000A
©2024 Pearson Education Ltd
...
If you change your mind about an
answer, put a line through the box and then mark your new answer with a cross
...
Use the data to support your answers where relevant
...
1 UK household savings as a percentage of household disposable income,
quarter 1 (Q1) 2015 to quarter 3 (Q3) 2021
25
%
20
15
10
5
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2015
2016
2017
2018
2019
2020
2021
(Source: https://www
...
gov
...
Write your answers in the spaces provided
...
Calculate the total amount of money saved by the average household in Q4
of 2015
...
...
...
...
...
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(c) Explain one likely reason for the change in total household savings from Q1 2020
to Q2 2020
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...
...
...
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(Total for Question 1 = 5 marks)
*P74000A0336*
3
Turn over
%
24
...
4
23
23
...
3
22
...
4
22
22
22
...
8
22
...
4
20
...
ceicdata
...
1
B 0
...
1
D
8
...
(4)
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(4)
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6
*P74000A0636*
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(Source: adapted from https://www
...
com/content/73163fa077c5-11e9-bbad-7c18c0ea0201)
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3 A group of banks, including Barclays and JP Morgan, have been fined more than
€1 billion by the EU’s competition authorities for rigging the foreign exchange market
after the Global Financial Crisis of 2008
...
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(b) Which one of the following is a role of financial markets?
To:
(1)
A
discourage saving
B
promote moral hazard
C
provide forward markets
D
restrict free trade
(Total for Question 3 = 5 marks)
*P74000A0736*
7
Turn over
4
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Trend GDP growth
C
Actual GDP growth
D
A
B
Time
(a) Which one point on the trade cycle diagram above illustrates a boom?
(1)
A
B
C
D
8
*P74000A0836*
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Real GDP
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(b) In July 2020 a survey estimated that the marginal propensity to consume in the
UK was 0
...
(Source: adapted from https://ifs
...
uk/uploads/WP202035-MPCs-throughCOVID-spending-saving-and-private-transfers
...
(4)
...
...
...
...
...
...
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(Total for Question 4 = 5 marks)
*P74000A0936*
9
Turn over
(a) Explain the likely impact of this tariff on the steel market in the US
...
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reuters
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(b) Which one of the following is likely to give the US a comparative advantage in
steel production?
An increase in:
(1)
A
corporation tax in the US
B
economic growth in the US
C
the productivity of US steel workers
D
the wages of US steel workers
(Total for Question 5 = 5 marks)
TOTAL FOR SECTION A = 25 MARKS
*P74000A01136*
11
Turn over
Write your answers in the spaces provided
...
Question 6
The UK Economy
Figure 1: UK national debt, percentage of GDP, 2001–2021
%
100
90
80
70
60
50
40
30
20
10
20
01
20 –02
02
20 –03
03
20 –04
04
20 –05
05
20 –06
06
20 –07
07
20 –08
08
20 –0
09 9
20 –10
10
20 –11
11
20 –12
12
20 –13
13
20 –14
14
20 –15
15
20 –16
16
20 –17
17
20 –18
18
20 –19
19
20 –20
20
–2
1
0
(Source: https://www
...
gov
...
ons
...
uk/economy/governmentpublicsectorandtaxes/
publicsectorfinance/bulletins/publicsectorfinances/december2021)
12
*P74000A01236*
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Read Figures 1, 2, 3 and 4 and the following extracts (A and B) before answering Question 6
...
5
%
4
...
5
3
...
5
2
...
5
0
Jul 22
Aug 22
Sep 22
Oct 22
Nov 22
Dec 22
Jan 23
Feb 23
Mar 23
(Source: https://www
...
com/content/ece962c3-b7e5-48c6-a0b1-06f9823a4853#
post-ad2ac225-0543-49e7-9ed5-af9907e83697)
Figure 4: Income tax rates for 2023–24, compared to 2022–23
2022–23
Tax band
2023–24
Income threshold
Tax rate
Income threshold
Tax rate
Personal
allowance
Up to £12 570
0%
Up to £12 570
0%
Basic rate
£12 571–£50 270
20%
£12 571–£50 270
20%
Higher rate
£50 271–£150 000
40%
£50 271–£125 140
40%
Over £150 000
45%
Over £125 140
45%
Additional rate
(Source: Gov
...
While this freeze
may not loo
Title: Edexcel a level economics a question paper 2 june 2024 + mark scheme
Description: Mark Scheme (Results) Summer 2024 Pearson Edexcel GCE A Level In Economics A (9EC0) Paper 02 The National and Global Economy
Description: Mark Scheme (Results) Summer 2024 Pearson Edexcel GCE A Level In Economics A (9EC0) Paper 02 The National and Global Economy