Question 4
Question 4 of 30
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No letter options?
Older MCQs might not have the typical A, B, C, D choices. They have choices 1, 2, 3, and a combination of them is the answer. Below is the key that maps such combinations to the answer.
A 1, 2 and 3 are correct
B 1 and 2 only are correct
C 2 and 3 only are correct
D 1 only is correct
Topics Tested
1. Basic economic ideas a...
1.2. Economic methodology

positive and normative statements (the distinction between facts and value judgements)

3. Government microeconom...
3.1. Reasons for government interve...

addressing the over-consumption of demerit goods and the under-consumption of merit goods

5. Government macroeconom...
5.4. Supply-side policy

AD/AS analysis of the impact of supply-side policy on the equilibrium national income and the level of real output, the price level and employment