CAPE Economics Unit 2 · 2012 · Paper 2 · Question 2(a)
Using the classical economic model, explain why disequilibrium employment exists.
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- 2(b)Analyse, using aggregate demand and supply curves, how a global recession may impact the aggregate demand and output of the economy of your country.[10 marks]
- 2(c)Identify THREE non-price determinants of aggregate supply and explain how EACH determinant influences the level of aggregate supply.[9 marks]
More practice: the rest of this paper · more Classical Models of the Macroeconomy questions · all CAPE Economics Unit 2 past papers