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9 marksClassical Models of the Macroeconomy

CAPE Economics Unit 2 · 2012 · Paper 2 · Question 2(c)

Identify THREE non-price determinants of aggregate supply and explain how EACH determinant influences the level of aggregate supply.

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Other parts of this question

  1. 2(a)Using the classical economic model, explain why disequilibrium employment exists.[6 marks]
  2. 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]

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