Edexcel IGCSE Economics 2.1.1 macroeconomic objectives
Use macro-objective questions to interpret indicators, calculate data and explain costs or benefits for countries and households.
- Syllabus
- First assessment 2019
- Course
- Economics 4EC1
Exam points
- Define or compare macro indicators using GDP, CPI, unemployment or trade data.
- Explain impacts of unemployment, poverty or pollution using country extracts.
- Link macro objectives with benefits, costs and stakeholder effects from data.
Covered syllabus points
2.1.1 Macroeconomic objectives question 1
Question (a)
(a)
Figure 1 shows imports and exports for a country in €bn.
Figure 1
Calculate the visible trade balance in €bn for the country. You are advised to show your working.
[ 2 ]
Question (b)
(b)
In February 2024, the Greek Prime Minister Kyriakos Mitsotakis said that the Greek economy was entering the recovery phase of the economic cycle.
With reference to the data above and your knowledge of economics, analyse the impact of a recovery on unemployment for a country such as Greece.
[ 6 ]
2.1.1 Macroeconomic objectives question 2
With reference to the data above and your knowledge of economics, analyse the possible impact of rising inflation on shoe leather costs for consumers in the UK.
Gross domestic product (GDP) growth in France is forecast to remain low over the next two years. Consumer spending is expected to improve as inflation reduces. However, a weak outlook for the German economy, France's main trade partner, and low growth in China are expected to limit any increases in growth.
As a result, unemployment levels are expected to remain high. The interest rate in France (as set by the European Central Bank) was 4.5% in December 2023, but may change in the future.
Figure 4
2.1.1 Macroeconomic objectives question 3
What is the main cause of frictional unemployment?
A
People choosing not to work
B
People having the wrong skills
C
People changing jobs
D
People employed at certain times of the year
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