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Edexcel A-Level Economics AS 2.3.5 4d Difficulties of Measuring Output Gaps Questions

Study Edexcel Economics output-gap measurement questions by explaining why potential output is estimated and why data, revisions and methods create uncertainty.

Syllabus
First assessment 2019
Course
Economics YEC11
Level
AS

Exam points

  • explain how estimating unobserved potential output from revisable data can change a gap's size or sign

Edexcel A-Level Economics AS 2.3.5 4d Difficulties of Measuring Output Gaps Questions question 1

[Maximum number: 4]

Using the IMF chart, explain one reason why measuring an economy’s output gap is difficult.

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