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Edexcel A-Level Economics AS 2.3.1 1a Rate of Change of Real Gross Domestic Product Gdp As a Measure of Economic Growth and Questions

Practise defining real GDP growth, interpreting quarterly percentage data and explaining how changes in real output relate to material living standards.

Syllabus
First assessment 2019
Course
Economics YEC11
Level
AS

Exam points

  • explain real GDP growth as a percentage increase in output after adjusting for inflation
  • interpret quarterly percentage data to describe zero, positive or changing real GDP growth
  • define living standards through material consumption and wider quality-of-life measures
  • analyse how positive real GDP growth can raise real incomes and material living standards

Edexcel A-Level Economics AS 2.3.1 1a Rate of Change of Real Gross Domestic Product Gdp As a Measure of Economic Growth and Questions question 1

[Maximum number: 4]

The data shows the quarterly percentage growth of real GDP for Belgium between Q1 2019 and Q4 2019.

Table for Question Edexcel A-Level Economics AS 2.3.1 1a Rate of Change of Real Gross Domestic Product Gdp As a Measure of Economic Growth and Questions question 1 — Edexcel A-Level Economics AS

With reference to the overall trend of the data, explain what is meant by the term 'growth of real GDP'.

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