Level
Marks
0
The work does not reach a standard described by the descriptors below.
1
The written response is limited.
1-2
For a limited explanation of one possible positive consequence, award a maximum of [1].
For an accurate explanation of one possible positive consequence OR a limited explanation of two possible positive consequences, award a maximum of [2].
2
The written response is accurate.
3-4
For providing an accurate explanation of one possible consequence AND a limited explanation of one other possible consequence, award a maximum of [3].
For providing two accurate possible consequences, award a maximum of [4]. Accurate explanations may include:
- Economic growth would lead to an increase in living standards, because growth tends to increase people's incomes and/or leisure time.
- Economic growth would decrease unemployment, because firms will need to hire more workers to increase output.
- Economic growth could possibly decrease inequality in the distribution of income, because people who were unemployed will be finding jobs or because the government could embark on redistribution policies.
- More resources become available to adopt cleaner technologies or there is more demand for a cleaner environment.
- Higher tax revenue (as incomes and profits grow) provides more scope for government spending/repayment of debt.
- If the growth is caused by an increase in LRAS, then inflationary pressure is lower/exports are more competitive.
- Any other accurate explanation of a possible positive consequence
