Edexcel A-Level Economics Core Quantitative Skills

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Knowledge 1, Application 3

Quantitative Skill assessed QS1: Calculate, use and understand ratios and fractions QS9: Interpret, apply and analyse information in written, graphical and tabular forms

Knowledge 1 mark for correct formula/implicit understanding, e.g.:
\begin{itemize}
\item[-] Population = GDP/GDP per capita (1)
\end{itemize}

NB: Accept GDP per capita formula (1)

Application Up to 3 marks for use of data in calculation from the following, e.g.:
\begin{itemize}
\item[-] 2019 → $89.42 billion / $2 810 = 31.82 million (1)
\item[-] 2020 → $62.31 billion / $1 896 = 32.86 million (1)
\item[-] Change → 32.86 million - 31.82 million = 1.04 million (1)
\end{itemize}

NB: if correct answer (1.04 million/1 million / 1041 860) is given, award full marks regardless of working.

NB: award 3 marks if minus sign is included in the final answer
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(4)

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\hline Question

With reference to this information, explain one likely impact of the
increase in quantitative easing on aggregate demand.

Mark

A

B