IB Economics HL 3.7.2 Market-based supply-side policies Question Bank
Practise IB Economics SL/HL 3.7.2 by applying market-based supply-side policies concepts to exam-style questions.
- Syllabus
- First assessment 2022
- Course
- Economics HL
- Level
- HL
Exam points
- identify the relevant model, concept or evidence
- apply the correct subject framework to the question
- evaluate the result using clear evidence and subject terminology
3.7.2—Market-based supply-side policies question 1
Table 1 provides information about Fairland.
Table 1
State two market-based supply-side policies that are likely to increase the supply of labour in Fairland.
Government economists have estimated that citizens of Fairland spend 10 % of any additional income on imported goods and pay a tax rate of 20 % on every extra dollar of income. The marginal propensity to save for Fairland's citizens is 10 %.
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