AS & A Level Economics 9708 · Topic 10

Government macroeconomic intervention (A Level): past paper questions

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Real questions on government macroeconomic intervention (a level)

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In the syllabus

10.1 Government macroeconomic policy objectives

objectives in terms of inflation, balance of payments, unemployment, growth, development, sustainability and redistribution of income and wealth.

10.2 Links between macroeconomic problems and their interrelatedness

relationship between the internal value of money and the external value of money.
relationship between the balance of payments and inflation.
relationship between growth and inflation.
relationship between growth and the balance of payments.
relationship between inflation and unemployment: • traditional Phillips curve • expectations-augmented Phillips curve (short- and long-run Phillips curve).

10.3 Effectiveness of policy options to meet all macroeconomic objectives

effectiveness of different policies in relation to different macroeconomic objectives: • fiscal policy including Laffer curve analysis • monetary policy • supply-side policy including market-based and interventionist policies • exchange rate policy • international trade policy.
problems and conflicts arising from the outcome of these policies.
existence of government failure in macroeconomic policies.

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